Dr. Dre: Hip-hop's first billionaire? Apple set to buy headphone company Beats for $3.2 billion
- 10 years ago
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Rumors have been flying since late last week about Apple's presumed $3.2 billion acquisition of headphone maker Beats Electronics.
The company, which was founded in 2008 by music producer Jimmy Iovine and rapper Dr. Dre, is known primarily for its over-priced bass-heavy headphones. More fashion accessory than marvels of engineering, audiophiles wouldn't be caught dead wearing them, but the company's products have quite the following among the fashion-conscious.
Analysts believe the less-than-warm reception to last year's release of iTunes Radio may be partly to blame for the surprising move, which has left loyal Apple fans puzzled. The streaming service was launched to combat flagging iTunes sales in hopes of emulating some of the success of young upstarts like Spotify.
Apple seems to think the newly-released Beats Music service can help turn things around for them.
The iPhone maker has tended to focus on smaller acquisition targets in the past, so who's to say that this time around things will go down smoothly?
Apple hasn't forgotten about Beats co-founder Dr. Dre, though, who, along with Iovine, is expected to join the tech giant in a senior role.
Given the doctor's large stake in Beats Electronic, he may well become hip hop's first billionaire.
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Rumors have been flying since late last week about Apple's presumed $3.2 billion acquisition of headphone maker Beats Electronics.
The company, which was founded in 2008 by music producer Jimmy Iovine and rapper Dr. Dre, is known primarily for its over-priced bass-heavy headphones. More fashion accessory than marvels of engineering, audiophiles wouldn't be caught dead wearing them, but the company's products have quite the following among the fashion-conscious.
Analysts believe the less-than-warm reception to last year's release of iTunes Radio may be partly to blame for the surprising move, which has left loyal Apple fans puzzled. The streaming service was launched to combat flagging iTunes sales in hopes of emulating some of the success of young upstarts like Spotify.
Apple seems to think the newly-released Beats Music service can help turn things around for them.
The iPhone maker has tended to focus on smaller acquisition targets in the past, so who's to say that this time around things will go down smoothly?
Apple hasn't forgotten about Beats co-founder Dr. Dre, though, who, along with Iovine, is expected to join the tech giant in a senior role.
Given the doctor's large stake in Beats Electronic, he may well become hip hop's first billionaire.
------------------------------------------------------------------------------------------
Daily videos brought to you by THE Taiwanese Animators behind the infamous Tiger Woods animation. We got the funniest animations on the web to help you stay in-the-know on all the trending stories, so sit back, relax, and watch a few.
Check out our Android app: https://play.google.com/store/apps/details?id=com.nextmedia.gan
Check out our iOS app: https://itunes.apple.com/app/tomonews/id633875353
Visit our channel for your daily dose of Taiwanese Animations:
https://www.youtube.com/user/NMAWorldEdition
Wish all your news was animated? Subscribe now:
http://www.youtube.com/subscription_center?add_user=NMAWorldEdition
Can't get enough of Taiwanese animations? Connect with us here:
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Web http://us.tomonews.net/category/lol