2muse Closes First Round Financing for Digital Music Delivery to Storefronts across China

2muse has completed a first round of financing to expand its integrated music delivery service throughout mainland China. Led by early-stage investment firm DFR Asia, the new financing will help 2muse deploy its state of the art content delivery system while bringing businesses into compliance with their music licensing and royalty payment obligations.

SHANGHAI (March 15, 2011) — 2muse, China’s premier music streaming provider for business, today announced the closing of its first round financing led by early-stage investment firm DFR Asia. The investment will serve to accelerate the growth of the company’s integrated music programming, delivery, and content licensing solution into new markets throughout China. Terms of the investment were not disclosed.

“There are hundreds of thousands of businesses in China who know that great music is good business and adds to the bottom line, but don’t have the time or experience to put together the music programming that is just right for their business or deal with the complexities of music licensing” says Edmund Qi, CEO of 2muse. The 2muse system is fully licensed by the Chinese Ministry of Culture and is a lead partner in digital music legalization initiatives in China.

“The huge addressable market coupled with its first mover status and deep management team positions 2muse to take a leadership position in the delivery of high-quality and legal music for retail in China” says Rick Myers, Managing Partner at DFR Asia. 2muse is currently deployed in select stores in Shanghai and Beijing and is in negotiations with several large chain store groups.

About 2muse

2muse provides customized music programming for stores and businesses throughout China. The 2muse solution integrates high-quality music programming, digital delivery, and backend royalty accounting into a cost efficient and easy to use system. Working with both original music rights holders and government trade bodies, 2muse brings businesses that use copyrighted music into compliance with their licensing and royalty payment obligations. More information can be found on the 2muse website at www.2muse.fm.

About DFR Asia

DFR Asia invests in early-stage companies leading the transformation now taking place in digital media, mobile, and entertainment in China. With a longstanding history in the region, DFR Asia brings together entrepreneurial vision, extensive operating experience, and capital to provide a distinct advantage in identifying, growing, and maximizing the success of Asian digital media startups. More information about DFR Asia, its approach, and portfolio companies can be found on the DFR Asia website at www.dfra.com.

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