Mexico's TV Azteca teams up with music social app Mugo
Mexico's TV Azteca announced a partnership with music sharing app Mugo to reach the Latin American markets, the TV company said in a statement.
Tel Aviv-based Mugo allows multiple listeners to sync to the same point in a song, allowing for collective listening and playlist-sharing over mobile devices. The company, founded in 2016, is in midst of a Series A financing round with venture capital and strategic partners. It collected US$2mn in earlier financing rounds
The deal includes a US$7mn investment on the part of TV Azteca, according to Israeli business news website Globes.
"The strategic cooperation with TV Azteca is a very important milestone for us and will be a significant leap forward in bringing a social music experience to the huge market in Mexico and Latin America that lives and breathes music," Mugo's CEO Ori Segal was quoted as saying in the statement.
"With the technology developed by Mugo, we see how music can become social on mobile platforms," TV Azteca CEO Benjamín Salinas said. TV Azteca is the second largest producer of Spanish-language TV content in the world.
Mugo is a free-for-download app that allows users to share their music listening history, track others' musical tastes and share playlists, as well as showing a map of songs being played in an area.
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