Amuse gets the American artist Will.i.am as a shareholder in the company.
Amuse, a Stockholm, Sweden, mobile record startup announced getting the American artist Will.i.am on its shareholding structure. The deal was made for SEK 740k ($93k) for 5% of the company, which was valued at SEK 14M.
Amuse, founded in 2015 and led by CEO Diego Farias, wants to become world's first mobile record company, by providing an app that acts as a free music distributor of independent artists around the world.
The company is in the process of raising more money. Prior to this transaction, Amuse raised SEK 3M ($330k) in seed money from a range of local angel investors, including Johan Persson, Bassam Mattar, Mattias Danielsson, Roshi Motman or Jorg Mohaupt.