In its last full-year financials, LiveXLive’s auditors expressed “substantial doubt” about its ability to continue as a going concern. ![]() In the three months to the end of June, LiveXLive’s revenues were $276.2k, but it recorded a net loss of $2.8m, ending the quarter with total liabilities of just over $6m. In its last fiscal year, which ended on 31 March 2017, LiveXLive generated $225k of revenues while recording a net loss of $14.2m. How does its new owner’s business shape up? There are challenges, it’s fair to say. At the end of June 2017, Slacker had total assets of $6.5m, but total liabilities of $24.4m. Financials revealed by LiveXLive outline the state of Slacker’s business: in 2016 it generated $36.7m of revenues while recording a net loss of $10.5m. Now it’s buying Slacker, which has been a direct (albeit much smaller) rival for Pandora in the US. The company, which has historically pitched itself as a “premium live-music streaming network”, has also been signing up a number of digital influencers, including former Vine star King Bach and YouTuber/Viner Amanda Cerny. The deal is part of a flurry of corporate activity for LiveXLive, which recently agreed to buy Snap Interactive, which makes a range of social apps, for $34m including $20.4m in cash. ![]() Slacker had raised $75.7m of funding since its Series A round in 2007, so as exits go, this isn’t one of the more lucrative examples. LiveXLive has agreed to pay $44m in cash and $6m in stock for the service, which has 1.5 million monthly unique users including 400,000 paying subscribers. US music-streaming service Slacker Radio is being acquired by LiveXLive Media, in a deal that values the company at $50m. Tags: Acquisitions LiveXLive Slacker Radio US
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