Beats was founded by Dr. Dre. The company was acquired by Apple back in 2014. In a $3 billion deal, Apple acquired Beats Music and Beats Electronics; Beats co-founders Jimmy Iovine and Dr. Dre joined Apple as part of the deal.
Back then, Tim Cook, Apple’s CEO, announced:
“Music is such an important part of all of our lives and holds a special place within our hearts at Apple; that’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”
Jimmy Iovine, co-founder of Beats, together with Dr. Dre, explained:
“I’ve always known in my heart that Beats belonged with Apple; The idea when we started the company was inspired by Apple’s unmatched ability to marry culture and technology. Apple’s deep commitment to music fans, artists, songwriters, and the music industry is something special.”
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