Slacker Gets $40 Million for Growth

When Slacker initially launched their three prong web, desktop, and portable music service, we felt they needed a lot of cash in the bank to take on incumbents like and iTunes. It looks like they got that start, with the addition of a whopping $40 million on top of the original $13.5 million series A, according to PEHub. Centennial Ventures and Rho Ventures were new investors, with Austin Ventures, Mission Ventures, and Sevin Rosen Funds returning.

So far Slacker has released two of their three pieces, a web player, and a desktop player., which focused on a web and desktop player, sold for $280 million to CBS after raising $5 million. This additional cash will most likely be going toward product development and manufacturing for the TBA WiFi portable music player and satellite car kit.