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Music-Based Social Network Smule Gets $38M

Music-based social network Smule has raised $26 million in equity and $12 million in debt funding, Silicon Valley Business Journal reports. “Smule users perform 12 million songs and record 1.5 terabytes of content daily on the Smule network,” it notes. “The company’s revenue doubled year-over-year in 2014 to $40 million.” Adams Street Partners led the round.

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