Dr. Dre and Jimmy Iovine might get more than a massive monetary windfall should their business deal with Apple go through.
The duo, who created the popular Beats brand of headphones and later added a music component to their company, could get top-level positions with the tech powerhouse if both parties agree to a proposed deal that that shocked the business world last week.
According to The Wall Street Journal, the Cupertino-based tech giant would appoint the co-founders of the electronics brand, which recently launched a subscription music service, top spots as part of the $3-billion-plus purchase….
The $3.2 billion deal for Beats, Apple’s largest acquisition to date, would boost the tech giant’s efforts in the streaming-music space, expanding upon its recently launched iTunes Radio.THR has reached out to Beats for comment; Apple declined to comment.
Forbes adds that the deal could have a domino effect on the tech industry.
Apple has consistently avoided making big deals in the past, but if the Beats transaction means [Apple’s Tim] Cook is ready to go into deal-making mode, the trickle down effect in the tech world could turn into a flood. Facebook recently turned Jan Koum and Brian Acton into billionaires by buying the messaging service they founded, WhatsApp, for $19 billion. Jim Goetz and his venture capital firm Sequoia were the big financial backers of WhatsApp and their funds will get some $3 billion from the deal, the largest venture capital exit of all time.