|What's the story with the current Turntable.FM expansion? The latest round of Turntable.FM news is that they've raised $7.5 million in fresh capital, but there seems to be a lot of rumors around who that money is is actually coming from.
Business Insider has confirmed that they've raised between $7 million and $7.5 million and raised the spector of a Turntable.FM mobile app, after investor Charlie O'Donnell got on Twitter and dropped hints that he'd love to see a Turntable.FM mobile app, saying "If Turntable.fm asked me to pay a subscription to take it mobile... I'd do it in a heartbeat."
BetaBeat confirmed that new money was being raised, and the Turntable.FM was being valued at about $40 million.
The general vibe is that Turntable.FM has approached 300,000 users for the still invite-only service, and is currently one of the hottest music properties of the moment. It still requires a special invite or a Facebook friend opting you in to get inside, and the exclusivity only seems to have driven the buzz around Turntable.FM through the roof.
So how long before the mobile app hits the web? The Turntable.FM Twitter says that they're working on it, with a clue revealed by saying that they're working on iOS development, meaning iPad and iPhone.
"Unfortunately we don't support iOS right now, so I'm afraid that there's nothing to be done. But we are getting to it!" reads the post.
Check out more about steaming music sites in the Spacelab Streaming Music Guide.