Beats Electronics refuses to stop growing. Dr. Dre and Jimmy Iovine’s headphone brand already has a monopoly on the headphone game, but they are far from hitting a plateau.
According to the New York Times, the company has received a $500 million investment from the Carlyle Group. With that in tow, Beats is now valued at over $1 billion.
Beats will also buy out HTC, who previously owned a 25% stake in the company for $265 Million, and Carlyle will now occupy two seats on the Beats board.
Dr. Dre recently placed within the top 3 highest paid hip hop artists on the Forbes list.