From Billboard · Chris Eggertsen,Ariel King,Taylor Mims · · 1m
AI Music Deals: GRAI Buys Hangout, Fever Raises $250M
GRAI acquires social music platform Hangout; Fever raises $250M in funding.
In brief
GRAI acquires social music platform Hangout; Fever raises $250M in funding. AI music company GRAI acquired Hangout to build an AI-powered social streaming service, while live entertainment tech company Fever raised $250 million for expansion. Originally reported by Billboard.
GRAI Acquires Hangout
AI music company GRAI closed an acquisition of the social music platform Hangout.
“grai closed an acquisition of the social music platform hangout”
Hangout's Social Music Features
Hangout allows users to start listening rooms and play music for guests.
“hangout allows users to start listening rooms and play music for guests”
Hangout Launched in 2024
Hangout launched in november 2024 with over 100 million songs via licensing deals.
“hangout launched in november 2024 with a library of more than 100 million songs”
GRAI's Vision for Social Streaming
GRAI plans to build an ai-powered social streaming service combining hangout's social listening insights with grai's tech and consumer product vision.
“grai plans to build an ai-powered social streaming service combining hangout's deep insights into social listening behavior with grai's tech and consumer product vision”
Hangout Founder's Statement
Hangout founder joseph perla said he built hangout to fix what's broken in online spaces.
“i built hangout to fix what's broken in online spaces”
Fever Raises $250M
Live entertainment tech company fever announced a $250 million primary equity financing round led by eqt.
“fever announced a $250 million primary equity financing round led by eqt”
Here's the gist
AI music company GRAI acquired Hangout to build an AI-powered social streaming service, while live entertainment tech company Fever raised $250 million for expansion.
