Specialty Music Streamer Saavn Nears $30-40 Million Funding Round

New York based music streaming service Saavn is close to raising $30-40 million in a deal reportedly led by Hong Kong-based hedge fund Steadview Capital, according to the Economic Times. Saavn specializes in streaming music to the Hindi community and has a catalog of 1.1 million songs. Initial Saavn backers were Tiger Global Management and several angel investors.