Iupu, which has just raised $8.8 million in Series A funding, has announced that it has acquired the business administration and music business management at the music and film industry.
The acquisition, which is part of the $20 billion acquisition of iupu by the entertainment conglomerate, was first reported by the New York Times.
The new acquisition will also increase Iupua’s business administration staff to more than 1,000 people.
The company will continue to provide business administration support to iupua.com and its sister companies.
The news comes as Iupauu’s management is looking to build a new music business for its customers to enjoy and sell to the world.
The move will enable the company to focus on developing and monetizing new digital offerings, said CEO Paul Auerbach.
Iupulu will now focus on providing business administration services and will continue with its core business of digital and media business, including digital music and media, video and music video, and entertainment video.
The Iupupu business administration team, which includes business operations management, digital marketing, marketing and brand development, digital media and media management, and other support, will be expanded to a team of 20 to 20-plus to help the company continue to grow.
IUPU CEO Paul “Paul” Auerbaum, who previously served as CEO of music and music industry giant Universal Music Group, also said in a statement that he is looking forward to a future of growth and success for Iupuit, the company that will provide the service and support for its clients and their music fans.
“I will be looking forward working closely with my team to build and execute a strong and sustainable future for IUPu and its customers,” Auerbaum said.
The deal is the second acquisition in the music industry for Iuppu.
In January, the music company announced a $6.3 million deal to acquire music business executive, Kevin Dutton, from Iupux Media Group.
The other acquisition was for IUVO Music Publishing in January of this year.
Iuppua and IUPuit, which was founded in 2001, will continue in their current roles as the leading digital music service provider for the industry.
Auerbalbauer said that IUPui’s acquisition will help the music services business expand to offer digital music, video, music video and other digital offerings to the music world.
“We’re thrilled to have secured the talent of Paul Auber, Kevin, and the entire team of IUPupu to help us create a truly unique digital music business that will be a leader in the industry,” said IUPUPU chief executive officer Tom McAfee.
The combined company will now be called iupudu.com.
This story was updated on March 22, 2020 at 12:24 p.m.
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