An “upstart” music streaming business that counts Robbie Williams and Sheryl Crow among its shareholders is tuning up for a stock market float.
Roxi Music aims to go public in the autumn at a mooted valuation of £50 million. The four-year-old company has developed a device operated by a handheld controller that it believes will appeal to older, less tech-savvy consumers.
The gadget plugs into a television set and, in addition to streaming music, offers games and karaoke. The £99.95 device, which includes 12-months’ access to its catalogue of more than 30 million songs, was promoted by Williams, 45, and Crow, 57, who received shares in the business. The service costs £5 a month thereafter, half the price of Spotify and Apple.