TuneIn raises $25 million, nabs new CFO from Google to monetize radio streaming

This is an excellent solution, and its global too! I use TuneIn quite a bit on my Blackberry


Palo Alto, California-based TuneIn has raised a new $25 million round of funding, and it plans to put that money to good use. TuneIn CEO John Donham told me Tuesday that he intends to spend a big chunk of his new funding on a monetization strategy that could help radio broadcasters finally make money with their programming online, and in turn transform a $30 billion industry.

To help him with that task, Donham has also brought Axel Martinez as the company’s new CFO on board; Martinez previously worked ten years for Google, (s GOOG) most recently as Assistant Treasurer, Head of Capital Markets.

TuneIn is offering access to live and on-demand programming from some 70,000 radio stations, and Donham said that the service has seen a huge uptake on usage in recent months: TuneIn users streamed more than one billion hours of programming during the first four months of this…

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