Slacker Raises $3 Million For Expansion
February 14, 2011 at 11:44 AM (PT)
Streaming radio service SLACKER RADIO announced in an SEC filing that it has received an injection of cash: $3 million in debt funding, MASHABLE.COM reports.
"Slacker had a great 2010 and tweaked their business to make it float," a SLACKER rep said. "The funding will help to further our automotive efforts" -- referring to SLACKER's move to become available in cars a la PANDORA. Still, since SLACKER has a license to cache music, it won’t need a constant signal to stream, giving it an edge on the other service.
SLACKER also plans to roll out on-demand listening at the end of JANUARY, but the rep now says it should be launched around the SXSW conference. This will expand SLACKER’s offerings to free radio, paid radio and on-demand.