HITS Daily Double


Beatnik Gets $30 Million From A Variety of Netcos
Digital content and device company Beatnik, Inc. has received $30 million in funding from several major Internet companies, including the MTVi Group, Sun Microsystems, Century Cyberworks, Media 100 and Space Shower.

"Strategic investments from these key firms will be used to support Beatnik's implementation of technology platform to deliver interactive audio to the Web, cell phones, set-top boxes and Sun's Java technology," said Beatnik President and CEO Lorraine Hariton. "We also plan to dine in several really expensive restaurants."

Beatnik had already formed alliances with many of its benefactors by licensing the Beatnik Audio Engine or supplying interactive audio, while establishing itself among technology companies with its java technology and Rich Music Format (RMF), which has a compact and secure audio file formats for use in digital devices like cell phones and set-top boxes.

The company was founded by '80s pop artist Thomas Dolby, who has since resumed using his surname, Robertson. His career earnings as a major-label recording artist fall somewhat short of his latest score.