Along with Slacker, it has reached an agreement to buy live video social network outfit Snap Interactive for $34 million. Earlier this year, it bought online nightlife and event ticketing platform Wantickets. It is trying to build its business through acquisitions. LiveXLive has limited revenue and posted a $14-million loss for the year that ended March 31, according to SEC filings. “We are excited to be joining forces with LiveXLive to extend the capabilities of Slacker to create a broader set of consumer experiences and leverage the reach and resources of LiveXLive to accelerate growth in the business,” Duncan Orrell-Jones, chief executive of Slacker, said in a statement. It expects to provide live music audio streaming to Slacker’s audience, as well as combine teams of both companies to offer both personalized audio and music-centric video content across mobile devices, TV apps and in-car infotainment systems. Launched in 2015, LiveXLive delivers live music and music-related video content over the Internet.
It reported a loss of $3.76 million, compared with a loss of $2.5 million a year earlier, according to SEC filings. For the first six months of this year, Slacker posted revenue of $13.4 million, down from $21 million for the same period in 2016. Securities and Exchange Commission.īut the company has struggled to make money. It has 1.5 million unique users monthly and 400,000 subscribers, according to filings with the U.S. Slacker has raised more than $70 million in venture capital and debt financing over the years.
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