Since the introduction of the Beats Electronic Brand, it has been a huge success for Dr. Dre and Jimmy Lovine and the company shows no sign of slowing. The Carlyle Group, a top private equity firm, has given Dr. Dre and Jimmy Lovine a $500 million investment.
Beats Electronics currently holds a 64 percent market share of high-end headphones (headphones that cost more than $100). Beats’ entry into new business like speakers and an online streaming service almost ensure a fruitful future.
The company is expected to gross around $1.2 billion in revenue for 2013.