The Accidental Investment
Mobile app maker Smule wasn't looking for more funding but saw the value when the right backers came knocking.
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If it bothers you to read about a company landing venture capital even when its founders didn't want it, prepare to be annoyed. That's what happened to SonicMule, better known as Smule. The Palo Alto, Calif., application developer is best known for popular mobile apps such as "I am T-Pain," which alters users' voices, and "Ocarina," which allows the user to "play" the phone and create music that sounds as if it's from an ancient flute.
Despite Smule's success in bringing bankable creative music apps to mobile devices, CEO Jeff Smith and co-founder Ge Wang were reluctant to seek more funding last year. Earlier in the year, the company had closed a $3.9 million round of Series B funding, and Smith just didn't see the need for more.
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