Skullcandy competitor Beats Electronics has received a $500 million minority investment from The Carlyle Group, according to news reports and a Beats press release.
The investment values the company at more than $1 billion, according to the New York Times. Beats by Dre is on track to record $1.2 billion in revenue this year, the newspaper said.
Skullcandy, which was founded 10 years ago and is publicly traded, currently has a market cap of $177 million based on its current stock price. Skullcandy’s 2012 revenue totaled $297 million.
Dr. Dre and Jimmy Iovine launched Beats seven years ago. Beats currently has 64% market share of the $100 and over premium headphone category, according to NPD Group.
We’ve noticed Beats appearing more and more in the action sports space, including having a presence at key trade shows and at some key retailers.
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