Rapper Kanye West has reportedly invested in Turntable.fm. He joins Lady Gaga and Union Square Ventures as investors in the social media site. The start-up company raised $7.5 million at a valuation of $37.5 million. However, it’s unclear exactly how much Yeezy or Gaga invested, but according to BusinessInsider, Union Square is the leading investor.
Some of you may be wondering what Turntable.fm is. This social networking site, which shares many similarities with Pandora, allows users to chat with one another and share music. Questions have arisen surrounding the legality of the site but the enthusiasm and capital invested by artists in this venture will likely put this to rest; perhaps gain even more investors. Since the site’s launch two months ago, it has reportedly garnered over 300,000 users.
