Beats Electronics and Music certainly got a tidy sum to become a part of Apple, in fact, the $3 billion deal is the iPhone maker’s largest acquisition to date. But a lawsuit from a former partner of Beats executives Dr. Dre and Jimmy Iovine claims that the duo swindled him out of his chunk of that very lucrative pie.
Listen up, music fans. If you use Beats headphones or listen to Beats streaming music service, there’s a new company in charge of servicing your ears: Apple has confirmed that it’s buying Beats Electronics LLC for $3 billion, which includes both the streaming-music service as well as its headphones business. [More]
Pairs of Beats by Dre headphones have showed up on many of the coolest ears on the planet, because it’s good for the brand to put them there. Lady Gaga and Justin Bieber have even had their own branded earbuds. (You might not think Bieber is cool, but his name does sell stuff to tween girls.) Getting the cans on to the heads of pro athletes is also key, which is why a wonderfully sneaky guerilla campaign began with the company slipping headphones to some highly visible Olympic athletes off-campus…despite Panasonic spending nine figures to be an official electronics sponsor of the Games. The International Olympic Committee is not thrilled with the good doctor.
This might be confusing, but yes, we are posting about Monster Cable, but not about them suing someone with the audacity to call their unrelated product “Monster.” Instead, a Monster Cable product is involved in a cautionary tale about buying electronics from a third party with no receipt. Will bought a sealed set of Beats by Dr. Dre Touring Headphones from someone on Craigslist, who claimed to have received them as a gift and didn’t have the receipt. (The item retails for about $180.) The amazing deal turned out to be slightly less amazing when the earbuds turned out to be defective, and Monster replaced them with…another defective set. Sometimes, you’re better off paying retail.