Vevo Looking For A Suitor
According to Business Insider, Vevo, one of YouTube's largest music video services, has hired both Goldman Sachs and Raine Group to begin the search for possible suitors interested in either a minority or controlling stake in the company.
The price tag for Vevo could reach as high as $1 billion, or approximately three times its gross revenue. This shows a significant increase from the valuation of $650 million it received just last year when Google (NASDAQ: GOOG) invested in the company.
Potential buyers and financial investors for the company include Amazon, Yahoo, DreamWorks Animation and Liberty Media, as well as the Carlyle Group and Peter Chernin, according to the Business Insider report.
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