Here's How Jimmy Iovine Convinced Apple To Buy Beats

Advertisement

apple beats

Apple

We now know how Beats cofounder Jimmy Iovine convinced Apple to buy the luxury headphones and music streaming company, thanks to a recent interview with GQ.

Advertisement

Apple bought Beats in October for $3 billion.

Iovine said he started pitching Apple about buying Beats in 2012.

Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

"I said, 'I don't want to work for anybody else. I want to do this at Apple. I know I can achieve this at Apple,'" said Iovine.

The Beats cofounder told Apple he wasn't interested in shopping the company around for potential buyers when he knew exactly who he wanted to work with.

Advertisement

"I wanna come here, to Steve's company," he told Apple, referring to the company's cofounder.

But Iovine ultimately sold Apple by convincing the company he could provide something they didn't have - a music streaming service.

"I know what you're capable of; I know you get popular culture," he said. "I know you have a hole in music right now; let me plug it."

All signs show Apple is working to catch up on music streaming. It plans to rebrand Beats Music and roll it into iTunes next year.