Music application company Radiolicious is seeking private equity investors to help it expand.
"Radiolicious is an excellent company and will have an exciting future under new ownership," stated Doug Daigle, the co-founder of the Internet radio service in the announcement. (He also has the title of “chief visionary officer.”)
He said new capital would help the company “focus on our core businesses of acquiring AM, FM, Internet and Artist radio stations and to fast-track the planned expansions of our brand into new mobile devices and eventually car Internet radio. We remain fully committed to Radiolicious and are aggressively pursuing our 1 million Artist radio station expansion initiative over the next five years.
"Provided that an adequate amount of capital can be obtained, there is a great chance Radiolicious will make an excellent investment,” Daigle also said. “We expect Radiolicious to continue as a vibrant and successful private company."
In a followup e-mail in response to a question from Radio World, Daigle wrote: “Nothing is or has changed. We are seeking a new round of capital for Radiolicious in order to rapidly expand our brand into more places as planned. We hope to find an interested suitor that complements our vision.”
“Radiolicious Brings AM FM Radio to iPhones” (2008)