Guvera, the Australian-based music startup whose business model offers members the ability to stream and download music using an ad-supported interface, is making a big U.S. push, and they're hiring a big industry name in order to do it.
The company plans to hire Phil Quantararo, former head of Virgin Music America and chairman of Warner Bros. Records, to head up its U.S. operations ahead of a planned IPO some time in mid-2013.
Guvera's platform allows advertisers to create channels where they host and pay for downloads, and the service has already racked up some licensing deals. Both EMI and Universal have signed on (with differing reports saying that Sony is on board or that the deal is in its final stages), yet Warner remains the elusive fourth major. Quantararo is expected to help in those negotiations.
Before going public, however, the company is pushing for more private backing, looking to raise $50 million that is expected to go toward firming up licensing deals and preparing the company for its IPO. They also are reportedly trying to shift their headquarters to the United States in order to tap into higher ad revenues.