Monday, July 18, 2022

LiveOne Raises $8.1M For Podcasting Spinout

Los Angeles-based LiveOne, which provides music and entertainment streaming, says it plans to spin out its podcasting subsidiary, PodcastOne, as a separate business. As part of that effort, the company said it raised $8.1M in financing at a pre-money valuation of $60M for the subsidiary. The company said it expects to spin out PodcastOne as its own, public company, before the end of the year. Source of the financing was not announced, but consisted of a private placement including convertible notes and warrants, and $3M invested by LiveOne itself.