TuneIn radio app gets $25m as it poaches finance boss from Google

INTERNET radio app TuneIn yesterday said it has raised $25m (£16.5m) in funding and poached a senior Google employee as its finance chief.

The company behind the app also announced that it now has 40m active users, placing it ahead of many other internet music services including Spotify.

TuneIn, which makes money via advertising on its app as well as offering a paid-for version, allows users to access more than 70,000 radio stations as well as on-demand programmes. The Silicon Valley-based firm has secured the funding in a round led by tech investors Institutional Venture Partners, whose previous successes include Twitter and Netflix.

TuneIn also announced that Axel Martinez, formerly assistant treasurer at Google, would be CFO.