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Dhingana Raises $7M In Series B Round From Lightspeed & Existing Investors

Online music streaming service Dhingana, has raised $7 million in series B funding led by Lightspeed Venture Partners, with its Series A investors, Inventus Capital Partners and Helion Venture Partners, also participating. The company intends to use the new funds to expand its team and expand their marketing, sales and business development efforts. Apart from that, Dhingana has also announced that Lightspeed Venture Partners principal Dev Khare will be joining Dhingana’s Board of Directors.

Founded in 2007 by twin brothers Snehal and Swapnil Shinde, Dhingana is headquartered in Sunnyvale, California, and also has their offices in Pune, India. Dhingana claims that it has 15 million monthly active visitors worldwide and that its catalog features 500,000 songs spanning 35 languages across numerous genres. Dhingana currently offers a HTML5 web app Dhingana.com, and native iOSAndroidBlackBerry and Symbian apps.

Previous developments: Recently, Dhingana had launched an advertising platform, allowing brands to buy ads on its portal. In May 2012, it had launched an open graph app on Facebook with integration to Facebook’s new Timeline. The app allows users to share the music they are currently listening to with their Facebook friends in realtime.

Dhingana had previously stated in a conversation with MediaNama that they consider advertising as its main source of revenue and they already have existing relationships with advertising networks across both US and India and has worked either directly or indirectly with some advertisers like Nissan Infinity, Emirates, Gillette, Samsung, and movie production houses in India (Don2, Players). Dhingana had also announced that Ex-Googler and Ex-Facebooker Gokul Rajaram,  had joined its advisory board.

Competition: Dhingana competes with online streaming websites such as Saavn.com*, Gaana.com*, Web18’s MPlayer, and Rediff Songbuzz.

*Disclosure: Saavn is an advertiser with MediaNama. Gaana is operated by Times Internet, an advertiser with MediaNama. 

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