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Today, however, Kafka is amending his story, reporting that multiple sources estimate that Apple paid around $80 million for the online music site.
While the rumored price is much higher than anticipated, not all of Lala's investors will be recouping their investments.
Kafka writes:
"That’s less than half what investors valued the company at in 2008, but it’s more than the $35 million the company raised throughout its life. Which means that some investors could get their money back and more.
But not all of Lala’s investors. Warner Music Group (WMG), for one, ended up getting back about half the $20 million it put into Lala, I’ve confirmed with people familiar the company."