Dr. Dre & Jimmy Iovine’s Beats Electronics Receives $500 Million Investment

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Dr. Dre and Jimmy Iovine’s uber-popular line of headphones and electronic devices just got another boost with a $500 million investment from The Carlyle Group, reports The New York Times. Beats announced the half a billion dollar boost in capital from the top private equity firm on Friday (September 27). With the influx of bread, the company is now valued at over $1 billion. CG will take up two of the six seats on Beats’ board. The electronics maker will also buy back the 25 percent stake owned by smartphone company HTC. “These transactions represent the evolution of the financial strength and significant growth prospects of Beats,” said Iovine.

This is a huge boost for a company that already boasts 64 percent of the market for headphones costing more than $100. Beats is on slate to take in $1.2 billion dollars in revenue in 2013.

  • MISTAH DUBS

    lets hope this gives dre even more creative freedom if he ever does decide to make detox right now I’m waiting on that NWA flick and to hear how MMLP 2 sounds Dre can do whatever right now dude has close to 3 million tracks recorded for Detox according to Scott Storch and has a vault of unreleased material dating all the way back to when he was with NWA man I would kill to hear all that music

  • BlackDeity

    I don’t know what this means for Dre and his business, but if you are applauding this move then you have no idea who the “Carlyle Group” actually is. First you should all do your research. I will tell you that this group has a crazy amount of influence over major wars and money spent on defense systems when we do have to go to war, and they cash out from those efforts all the time. So again, idk what this means for dre and their business. Maybe it’s just a powerful group making a smart investment. But that investment seems out of left field, considering what the Carlyle group deals with regularly.

  • CBatts

    I’m sure this will help his business. A big investment like that is always positive. I feel like the beats company will only grow and I think their products will only get better but also more expensive. Overall I love this company.