Songtradr has raised $109 million at a valuation of nearly $900 million.
👉 Background: Songtradr's founder was Vanessa Amorosi and Deltra Goodrem's songwriter. He identfied how frustrating it was for musicians to license their work for TV shows and movies - so he set up Songtradr in 2014 as a marketplace that matches brands with music to license.
👉 What happened: Fast forward 9 years, Songtradr hosts songs from more than 600,000 musicians and songwriters. Now, Songtradr has raised $109 million at a valuation of nearly $900 million.
👉 What else: A large reason for this capital raise is to continue acquiring more companies in this space. In fact, Songtradr has acquired 10 companies in the music space over the past 3 years.
💡When it comes to business expansion, the big question is always whether to build organically from within or buy your way to growth.
💡Organic growth is generally a steady approach that relies on building a customer base and enhancing products internally. On the other hand, growth through acquisition can offer a fast-track to expansion.
💡But acquisitions can come with their own set of challenges, including cultural challenges, tech integration challenges and more. In fact, Harvard Business Review discovered that between 70-90% of acquisitions fail.
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