Before Apple makes its Beats acquisition truly official, join us for a trip down context lane.
Sure, every tech pundit with Internet access has weighed in on why the $3.2 billion deal is good or bad for Apple, but before you make up your mind, here's a look at how Beats Electronics evolved into the accessory powerhouse it is today.
Click on the dates below to learn more about each milestone.
- July 25, 2008: Rapper and producer Andre "Dr. Dre" Young and Interscope chairman Jimmy Iovine cofound Beats Electronics. The duo's first product launches exclusively in Apple and Best Buy stores and cost $349.95.
- August 2010: Beats Electronics licenses its brand to third-party manufacturers under the "Beats Audio" name. HP is the first to sign up. Standout integrations include the HP Envy 14.
- April 19, 2011: Beats signs deal with Chrysler Group to bring Beats Audio into automobiles. According to Beats: "Your car is more than just a way to get from A to B. It's one of the few places where music matters the most. With BeatsAudio you can immerse yourself in your favorite songs and hear them in ways you never have before."
- August 2011: HTC buys a majority 50.1 percent share in Beats Electronics for $300 million. Simultaneously, HTC loans the firm $225 million. According to the New York Times: "Peter Chou, HTC’s chief executive, said that teaming up with a top music brand would help his company compete with other cellphone makers like Apple and Samsung."
- September 14, 2011: HTC begins releasing Beats Audio-powered smartphones. The first product: the HTC Sensation XE.
- January 12, 2012: Beats begins manufacturing its products in-house, after ending an exclusive manufacturing deal with Monster Cable Products. Later, Monster kicks off a competing product.
- July 2, 2012: Streaming music service MOG is officially acquired by Beats. The service reportedly sold for over $14 million.
- July 23, 2012: Dr. Dre and Jimmy Iovine buy back a portion of HTC's shares for just $150 million. The two founders collectively own 75 percent of the company. HTC still owns 25 percent.
- November 2, 2012: Beats gets into the portable speaker market, flops. VentureBeat calls it "a tiny speaker with big problems."
- December 10, 2012: Beats partners with Nine Inch Nails front man and Oscar-winning musician Trent Reznor, and plans to launch a music streaming service the following year.
- January 11, 2013: News surfaces that Beats cofounder Jimmy Iovine had tried to convince Apple's Steve Jobs to launch a music streaming subscription service before launching Beats. Iovine was reportedly quite close with Jobs.
- March 5, 2013: Beats raises $60 million and plans to spin-off its music streaming project into a separate company. Apple is said to be a potential partner in the new venture.
- September 27, 2013: HTC sells its remaining 25 percent stake in Beats for $265 Million. Meanwhile, Carlyle Group LP reportedly invests in Beats. Following the deal, Beats is reportedly worth $1 billion.
- January 21, 2014: Beats Electronics enters the music streaming business to challenge the likes of Spotify, Pandora, and Apple's iTunes Radio.
- April 21, 2014: Rumors that Beats is raising another $60+ million in funding emerge. The alleged round signals that Beats is likely struggling to compete with companies like Spotify.
- May 8, 2014: Reports allege that Apple is in talks to buy Beats for $3.2 billion. Later, a video surfaces on Facebook which appears to drunkenly confirm the news.
What do you think of the deal? Let us know in the comments below!