Beats Electronics Receives $500 Million Investment

admin  | Monday, 30 September 2013 | 759 Total Views

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The Carlyle group has invested $500 Million in Dr. Dre and Jimmy Iovine's Beats Electronics. Beats Electronics refuses to stop growing.

Dr DRE and Jimmy Iovine's headphone brand already has a monopoly on the headphone game, but they are far from hitting a plateau. 

According to the New York Times, the company has received a $500 million investment from the Carlyle Group. With that in tow, Beats is now valued at over $1 billion.

Beats will also buy out HTC, who previously owned a 25% stake in the company for $265 Million, and Carlyle will now occupy two seats on the Beats board.

Dr. Dre recently placed within the top 3 highest paid hip hop artists on the Forbes list.

via: HNHH