SPOTLITE GETS SOME BIG COIN

Spotlite, a karaoke-social networking startup developed out of China, has earned $10m in funding from Sequoia Capital and BlueRun Ventures. Founders Ke Tang and jason Ma, interviewed by TechCrunch, said they plan to use the infusion for staffing, marketing and other growth.

The company has already struck deals with several major publishers.

In the app, users can select from a range of popular songs and record their own versions, which can then be submitted for community enjoyment. Listeners can then gift the singer with virtual currency ($5.99 for 599 "coins"), which is convertible to cash. This "gifting" model has gained significant traction in Asia.

Stay tuned.

BACK TO RUMOR MILL

		UMG AND TIKTOK WORK IT OUT The kerfuffle is in the past. (5/2a) Check It Out Now LUCIAN SOUNDS OFF ON UMG/TIKTOK DEAL A breakdown from the boss (5/2a) Check It Out Now HITS LIST: HANGIN' OUT With extra relish (5/3a) Check It Out Now LIVE NATION POSTS (ANOTHER) RECORD QUARTER More butts in seats than ever before. (5/3a) Check It Out Now A POST-WALLEN AFFAIR A dynamic duo, y'all (5/3a) Check It Out Now
		THE NEW UMG Gosh, we hope there are more press releases. TIKTOK BANNED! Unless the Senate manages to make this whole thing go away, that is. THE NEW HUGE COUNTRY ACT No, not that one. TRUMP'S CAMPAIGN PLAYLIST Now 100% unlicensed!

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SPOTLITE GETS SOME BIG COIN

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