The leading European early-stage venture capital firm Mangrove Capital Partners has invested in Rdio, new social music service of Skype founders Janus Friis and Niklas Zennströmn, wrote Mangrove partner Mark Tluszcz on his Twitter account.
Launched in June 2010, Rdio (from Radio and Audio) was funded by Atomico, venture capital firm of Janus Friis and Niklas Zennströmn.
Rdio is a subscription-based music service to discover, play and share music. Rdio works on the web and iPhone, BlackBerry, Android and Windows Phone 7 phones. Rdio Unlimited costs $9.99 per month and works on the web and smartphones. Rdio Web, which is web only, costs $4.99 per month. There is a free trial to test the service. Rdio VP of Product Design, Malthe Sigurdsson was Creative Director at Skype helping create its brand and user experience.
Mangrove Capital, which was the first institutional investor in Skype, previously invested together with Atomico into Jolicloud and Woome.