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Vevo Hires Goldman Sachs For Up To $500 Million Capital Raise: Ft

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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(Reuters) - Online music video service Vevo has hired Goldman Sachs Group Inc to raise up to $500 million from new investors, the Financial Times reported, citing people briefed on the plans. Vevo, founded in 2009 by Universal Music Group and Sony Music, expects to raise between $300 million to $500 million for its international expansion, potential acquisitions and the development of new mobile and television services, the FT reported on Friday. Goldman Sachs declined to comment.

 

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