Dr. Dre’s ‘Beats By Dre’ Gets $500 Million Investment

Comments:  | Leave A Comment

dr-dre-jimmy-iovine

 

Just as you started to believe the “Beats by Dre” era was at a standstill, the company receives a huge investment from a private equity firm. The popular line of headphones and other electronic products owned by Dr. Dre and Jimmy Iovine received a $500 million investment from the The Carlyle Group.  The Carlyle Group will now take two of the six seats on the Beats’ board.

The popular company is now valued at over $1 billion and is expected to bring in nearly $1.2 billion in revenue. Wondering what the billion-dollar company plans on doing next? Beats is planning on buying back 25 percent of their stake owned by smartphone company HTC.

This investment is a huge boost for the company that already claims 64 percent of the headphone market.

READ MORE HOT ENTERTAINMENT COVERAGE ON THEURBANDAILY.COM:

Pusha Claims His Royal Throne In New ‘King Push’ Video

Jeezy And Meek Mill Hop On Rich Homie Quan’s ‘Some Type of Way (Remix)’ [NEW MUSIC]

Are These Really The Best Vine Videos So Far Of 2013 [VIDEO]

Like TheUrbanDaily.com on Facebook to stay updated with the latest entertainment news and original interviews!

Join the Conversation! Share and Discuss!

Originally seen on http://theurbandaily.com/

Tags: » »

Comments

blog comments powered by Disqus