📝 Tuneln acquired for $175M

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Stingray Group, the Montreal-based music and tech company, has acquired internet radio service TuneIn for $175 million — a steep drop from TuneIn’s former $500 million valuation. The deal, funded through Stingray’s renewed credit facility, includes $150 million upfront and up to $25 million a year later. Founded in 2002, TuneIn built its business around streaming traditional radio stations online, offering news, talk, and sports alongside music — but struggled as audiences migrated to podcasts and ad-free music services like Spotify and Apple Music. With 75 million monthly active users across 200 platforms and 50+ in-car systems, TuneIn gives Stingray a global foothold in connected audio and automotive markets. The combined company will surpass $400 million in annual revenue, with TuneIn projected to generate $110 million in sales and $30 million in EBITDA next year.

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