Kara Swisher

Recent Posts by Kara Swisher

Sonos Raises $135 Million From KKR, Redpoint, Elevation

Wireless music systems maker Sonos has a round of primary and secondary financing of $135 million, a figure that is more than double what it has previously raised in total, according to sources close to the situation.

Kohlberg Kravis Roberts led the round, along with investors Redpoint Ventures and Elevation Partners.

Previous investors in Santa Barbara, Calif.-based Sonos — which has been around for a decade and introduced its first product in 2005 — include BV Capital and Index Ventures. Index invested $25 million in the company last year.

About one-third of the new funds — or $45 million in primary financing — will be devoted to growth efforts for its popular and innovative multiroom music systems, sources said.

The company recently hired a former Research In Motion exec as its new head of global sales.

As part of the financing, sources added, KKR’s David Kerko and Fred Anderson of Elevation have joined the board, along with John Maeda, who is president of the Rhode Island School of Design. BV Capital’s Andreas Von Blottnitz will leave his post as director.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work