It's official: Apple buys Dr. Dre's Beats Electronics for $3billion | Welcome to Linda Ikeji's Blog

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Wednesday, 28 May 2014

It's official: Apple buys Dr. Dre's Beats Electronics for $3billion

It's official. Dr Dre is set to become the first billionaire in Hip Hop. Apple Electronics announced today that it has acquired Dr Dre's Beats Electronics for $3billion. According to Forbes, Apple paid $2.6billion cash upfront and gave $400million in stock that will vest over time.

The $3billion purchase price includes Beats Music, the sister company that runs a subscription streaming music service. As part of the deal, Beats co-founders Dr. Dre and Jimmy Iovine will join Apple in undisclosed roles.
"Music is such an important part of all of our lives and holds a special place within our hearts at Apple,” CEO Tim Cook said in a statement released today. “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.”
This acquisition is Apple’s biggest and largest acquisition since the inception of the company. Apple made $171 billion revenue last year, while Beats made $2 billion.
at 5/28/2014 11:58:00 pm

94 comments:

  1. Unknown29 May 2014 at 00:14

    I knew that deal was gonna happen even posted it on my blog. Congrats to u dr dre u deserve it. Typical Igbo man

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    Replies
    1. @MEETD®EALEVANS™29 May 2014 at 05:33

      Beyonce wudnt mind leaving Jay for Dre nw, or kim leaving kanye for Dre, his d next available bus for dem naw...

      Delete
    2. Anonymous29 May 2014 at 09:31

      Thnk you. So much 4 all those blaming Tyrese b4. I hpe u see nw, sme friends are actually happy 4 u. Cngrats Dr.Dre. Let's chop the money now. I'll send u my acc number :) -----C21

      Delete
    3. Unknown29 May 2014 at 13:45

      @meetdrealevans,ode.com u tell u beyonce marry jay z bcos of moni. She loves him unconditionally despise his flaws

      Delete
  2. ary29 May 2014 at 00:15

    Congratulations to both parties now waiting for Dre to go use the money and finish the Chronic album. We have waited forever.

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  3. BELINDA29 May 2014 at 00:17

    Father lord...remember me oooo!!!!!! chei chei chei!

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  4. Anonymous29 May 2014 at 00:18

    Dr. Dre owns only 25% of the Beats by dre company so that's below $800,000,000 then tax gets half of the money. He is currently worth about $500,000,000 so all in all he hasn't quite hit the one billion dollar mark yet.....

    The Analytical Observer

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    Replies
    1. Anonymous29 May 2014 at 02:40

      Otondo b observing don't go n create mumu

      Delete
    2. Anonymous29 May 2014 at 06:35

      Nice one...I don dey find person wey go talk am....d whole money isn't for em..

      Delete
    3. yusuf29 May 2014 at 06:58

      Calculator, will you know more than Forbes?

      Delete
    4. Anonymous29 May 2014 at 07:02

      U are correct..he aint a billionaire yet even with the sale.....................#King

      Delete
    5. Anonymous29 May 2014 at 07:13

      You are mistaken my friend. Actually he owns more than 50% shares in the newly acquired company by Apple. So he has hit and surpassed the 1 billion dollar mark. #researchisyourfriend

      Delete
    6. Anonymous29 May 2014 at 08:40

      Thank U mr calculator. Go & make ur own money. Instead of u to congratulate d guy u are saying non sense.

      Delete
    7. Anonymous29 May 2014 at 08:47

      $500,000 000 u said, frm a musician & u think its not worth celebrating? Hv u handled $100,000 in ur life? Haters like u hardly progress. U are wicked & senseless.

      Delete
    8. Anonymous29 May 2014 at 08:47

      Thank U mr calculator. Go & make ur own money. Instead of u to congratulate d guy u are saying non sense.

      Delete
    9. Anonymous29 May 2014 at 08:55

      For your mind, you think say Dr dre nor go channel him $800million through some smart investment vehicles, thus making sure the taxman gets as little as possible? You think say him go just mumu carry d moni just go meet taxman to collect 50%? Jewish accountants wey other billionaires dey use don finish?

      First hip hop billionaire abeg!!!

      By the way, the guy weed go be proper highest grade (oyel go dey commot from the mouth), straight from the farms of Ondo and picked just the day before. Yeah.

      Delete
    10. Candyflosss29 May 2014 at 09:03

      You took it right outta ma mouth, he jst owns part of the beats company after tax it leaves him with almost nuffin... Congrats all the same!

      Delete
    11. Anonymous29 May 2014 at 10:03

      Sharap forming analytical observer,when u just copied and pasted from an earlier statement by Forbes magazine. Oloshi

      Delete
  5. Anonymous29 May 2014 at 00:21

    One word #Boss

    Amuma1

    ReplyDelete
  6. Debbie Chelsea29 May 2014 at 00:23

    Gud

    ReplyDelete
  7. Jane29 May 2014 at 00:33

    Yeeeeekppppaaaa! See moneyOoooooooo!

    ReplyDelete
  8. Unknown29 May 2014 at 00:35

    Wow!!!!!! Great one there. Congratulations to you Dr Dre. To canal with bad belessssssssss. ⌣̊┈̥-̶̯͡»̶̥♡thanks ⌣̊┈̥-̶̯͡»̶̥ 

    ReplyDelete
  9. Anonymous29 May 2014 at 00:36

    Money to be made,street life paying off....Arc ugoes

    ReplyDelete
  10. Onyeka F!29 May 2014 at 00:49

    So much money!
    Isn't Adam the background coaching guy for the last season of American Idols? It's him!!!
    Wow!!!These guys are so simple, even with all their money!!! Naija pips, take note!

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  11. Tobi29 May 2014 at 01:03

    So happy for Dr dre

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  12. Anonymous29 May 2014 at 01:04

    Too much money for Dr Drey.... Bravo!!! Baba God don't forget me too ooo.

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  13. Anonymous29 May 2014 at 01:06

    Congrats boss

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  14. sisi29 May 2014 at 01:07

    Wow....dats some shindig right der!...congrats dawg

    ReplyDelete
  15. Nwa Aba29 May 2014 at 01:09

    About 450 billion naira, Dr dre don Hammer

    ReplyDelete
    Replies
    1. Anonymous29 May 2014 at 02:42

      Useless u was dre poor before mumu

      Delete
  16. Anonymous29 May 2014 at 01:17

    aunty oya wake up! this gist is not new

    ReplyDelete
  17. Bigtymerbitz29 May 2014 at 01:24

    If I were dre I no sell o money too small joor

    ReplyDelete
    Replies
    1. Anonymous29 May 2014 at 02:33

      What do u know abt moni....*Ndi owu n'asa ana afuwa cha* PhynoSVoice#
      Jennipukka

      Delete
    2. Anonymous29 May 2014 at 02:37

      Na why u go remain for Effurun dey flex. Lol

      Delete
    3. Anonymous29 May 2014 at 02:42

      That is y u will remain poor forever mumu boi

      Delete
  18. Dj kenzy29 May 2014 at 01:59

    Dats a nice move by apple company.

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  19. Dj kenzy29 May 2014 at 02:00

    Nice move.

    ReplyDelete
  20. Anonymous29 May 2014 at 02:03

    why do i feel this aint right?...oga dre..u made 2 billion in sales and sold your company for 2 billion?..hian....and they employed u?...so u left being a ceo to being an employee?...and add u are african american...there are very few of your kind that pple look up to. wrong move bro...would have sold it for much more though.

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    Replies
    1. Anonymous29 May 2014 at 02:20

      U make sense.

      Delete
    2. Anonymous29 May 2014 at 02:39

      $2b in Sales will probably translate to about $300m in profit. Selling ur company for the equivalent of 10yrs profit is a pretty good deal. The usual factor ranges from 4 to 7.

      Delete
    3. Anonymous29 May 2014 at 02:43

      I thought the same thing too

      Delete
    4. Anonymous29 May 2014 at 05:27

      2 billion revenue, not profit sir.

      Delete
    5. PURPLE29 May 2014 at 08:10

      Hmmmm...thoughtful

      Delete
    6. AIO29 May 2014 at 11:43

      Taught am the only one that noticed! After all the noise the apple coy made about being conservative he should ve billed higher than that. Anyway whatever rocks his boat sha

      Delete
  21. Unknown29 May 2014 at 02:06

    That's my big hommie from westcoast..... Diddy ain't the only one topping Forbes u know. Dr Dre congrt..

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  22. Unknown29 May 2014 at 02:51

    I seriously think he should have waited. He made $2 billion in revenue last year and the business was still booming. Could have doubled his revenue by year end which is over and above what he sold for. Whatsapp was courted by Facebookfor long but they held out and grew the company. Eventually sold for $19 billion.

    ReplyDelete
  23. Unknown29 May 2014 at 02:54

    I seriously think he should have waited. He made $2 billion in revenue last year and the business was still booming. Could have doubled his revenue by year end which is over and above what he sold for. Whatsapp was courted by Facebookfor long but they held out and grew the company. Eventually sold for $19 billion.

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  24. Anonymous29 May 2014 at 02:58

    Some much for 'DRY HATING'...sometimes its advisable to hold off on stupid assumptions. Congrats Dre.

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  25. Anonymous29 May 2014 at 05:08

    People be talking like he's the sole owner of the company...he's getting like 800million from the deal....half goes to tax and the remaining 400m dollars to him....

    Small now, he'll hit the 1billion dollar mark...

    Sweeeeeeeetttttt!!!!!

    ReplyDelete
  26. Anonymous29 May 2014 at 05:14

    Baba God knw forgt me O. I dey heRe to.....we all gonna make it. Linda did it to. I wanna buy linda ikeji's blogs. God bless u linda, xo omar...atunda,

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  27. Unknown29 May 2014 at 06:05

    Thank God

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  28. Anonymous29 May 2014 at 06:07

    Congrat boss dre

    ReplyDelete
  29. MAHA29 May 2014 at 06:22

    Rich For life!!
    No be pple like Rick Ross!!

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  30. Anonymous29 May 2014 at 06:29

    Bitch pleeeeeaaAaaaaassssseeee! U d BOSS.

    ReplyDelete
  31. Okoro29 May 2014 at 06:36

    Congrats to him..

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  32. Unknown29 May 2014 at 06:41

    I hope this man knows wat he is doing by selling this company. Anyway am hapi for him

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  33. Unknown29 May 2014 at 07:06

    Felt is wrong deal,bt tink again if he invest wisly,he started a company b4, he can start som again,cudos dr beat.

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  34. Unknown29 May 2014 at 07:07

    So this dude just turned billionnaire.... Happy for him.....
    .
    .
    .
    ***CURRENTLY IN JUPITER***

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  35. Unknown29 May 2014 at 07:30

    Ok, that's a huge sum Dre. But trust me, I wouldn't sell that company where I in your position. The best deal would have been to issue some stakes to Apple and use their goodwill to boost the company, this way both company's will still be better-off at the end of the day while you still remain the boss. You have your reasons though, I guess

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  36. Olubukola Ozone29 May 2014 at 07:35

    I knew Apple wouldn't jeopardize dat deal bcus of som1's view or wat som1 says... Both parties will make big profits frm d transaction. I knew Apple was gonna buy it. Congrats Dr. Dre

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  37. Amarachukwu.29 May 2014 at 07:39

    Congrats Boss#

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  38. Anonymous29 May 2014 at 07:44

    Lol.

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  39. DOBY DOBY29 May 2014 at 08:48

    Woow.. hes lucky. . Soo much money

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  40. Anonymous29 May 2014 at 08:51

    If he made 2 billion as profit why then did he sell it for 3 billion?,wrong move

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  41. Anonymous29 May 2014 at 08:59

    Baba GOD oya turn up my own story too for good ooooo. Owo Tabua...... OLUWASEGUN

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  42. KriZo 0129 May 2014 at 09:13

    Westside for life. RIP Tupac.

    ReplyDelete
  43. Anonymous29 May 2014 at 09:20

    Linda,deir is anoda bomb blast at kurudu market now.

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  44. KWEEN29 May 2014 at 09:26

    Congrats to him but I have my reservations about this. If Dre made 2billion dollars in revenue last year, why is he now selling it for 3billion? I mean, he wasn't doing badly at all. It's possible he could have made more or close to 3billion this year. Oh well, I believe he knows exactly what he's doing and I pray it turns out very well for him.

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  45. Jay29 May 2014 at 09:31

    Dre only owned about 20% of the company and after taxes he is walking away with about 400million USD. So technically he's not a billionaire yet. Kudos to him anyways.

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  46. Anonymous29 May 2014 at 09:33

    Kip hustling!,I dnt care wat u do as long as d outcome is income.#richiexxx.

    ReplyDelete
  47. Unknown29 May 2014 at 09:43

    I see nowadays every body wanna talk like they got sometin to say but nothing comes out when they open move their lips just a bunch of gibberish motherf**kas forget abt dre....culled from 'forget about dre'...congrat

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  48. Walata29 May 2014 at 09:54

    It's okay

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  49. Anonymous29 May 2014 at 10:03

    Wow! Congrats Dr Dre!!!... Apple pls com nd buy me ooo,just $20billion.... By @succcessralu

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  50. Unknown29 May 2014 at 10:17

    Dr.Dre is so Perfect. Latest inductee of Billionares in town

    >VIA TECNO B3.

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  51. Austin29 May 2014 at 10:21

    Heard he only owns 20% of beats...he might not reach the billion mark after taxes are paid

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  52. Anonymous29 May 2014 at 10:23

    Anon 12.18, u b proper mumu..Dre owns 65% of d company, if not, y would som1 dat owns 25% be d ceo ? Google or ask persn pls. Besides, he's currently worth over $300m.. Dre is a smart man, real biz man..I luv me Dre n Diddy, dos 2 men kno d bizes of music

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  53. Dj Kimono29 May 2014 at 10:32

    Oh Gawd!! Apple's product wey expensive before, Beats by Dre would now be freaking expensive...not a good idea oh!..

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  54. SEX AND INTIMACY29 May 2014 at 11:24

    Good for him if he is happy. What we think about the deal isn't relevant

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  55. Unknown29 May 2014 at 12:03

    Congrat to him am so happy for him God bring me my own breakthrough

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  56. Anonymous29 May 2014 at 12:04

    is it still goin to be beats by dre or beats by apple?

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  57. Anonymous29 May 2014 at 12:11

    Why then did he sell? If not to become the first hip hop billonire

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  58. hrm paul ojeih29 May 2014 at 12:13

    Hahaha haters die its official the chronic beat maker the g funk creator the doggy dog beat maker the marshal matters creator the fifdy in da club beat maker Nate dog music and me maker has finally done it wen dey said tyrese Gibson was dry hating (that was Linda ikejis statement) i knew it was bull shit wat will be will be and its official dre has hit the bulls eyes

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  59. Anonymous29 May 2014 at 13:28

    CONGRATS

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  60. Anonymous29 May 2014 at 14:47

    Ndi business. More grease to your elbow jare.

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  61. Unknown29 May 2014 at 17:15

    Hmmm.....good for him.

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  62. APPLE29 May 2014 at 19:10

    That is a lot of cash.

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  63. Anonymous29 May 2014 at 23:46

    CongrAt Dr Dre

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  64. Anonymous30 May 2014 at 08:30

    Dr Dre is not the only person in involved in this deal I believe other celebs invested in the company.... the likes of lady Gaga, pdiddy and so many others.

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  65. Unknown30 May 2014 at 10:12

    I am inspired never to give up.

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  66. Unknown30 May 2014 at 13:20

    very smart move. more money for him.

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  67. Beats For Sale15 July 2015 at 08:03

    Its truely amazing... I am a huge fan of your work..

    ReplyDelete

Disclaimer: Opinions expressed in comments are those of the comment writers alone and does not reflect or represent the views of Linda Ikeji.

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