British F1 and McLaren legend Ron Dennis CBE has made a major investment in the British music entertainment business ROXi, taking a 10% stake in the company.21 November 2019 - Press release
- McLaren legend Ron Dennis CBE makes substantial investment in ROXi to combat small screen addiction with a home music entertainment system that gets families listening, playing, singing and dancing together
- Investment gives the McLaren founder 10% stake in the British music streaming company, just ahead of IPO
- Joins ROXi shareholders Robbie Williams, Sheryl Crow, Alesha Dixon, Paul McGuinness
British F1 and McLaren legend Ron Dennis CBE has made a major investment in the British music entertainment business ROXi, taking a 10% stake in the company. Already backed by Robbie Williams, Alesha Dixon, Sheryl Crow and Paul McGuinness, ROXi is preparing to IPO on the London Stock Exchange in early 2020. ROXi delivers an antidote to small screen and social media addiction with an affordable, fun, family-friendly shared music entertainment experience for the home featuring unlimited music, music games, karaoke singalongs, worldwide radio access and more.
Ron Dennis CBE commented; “Small screen addiction, with kids glued to social media and smartphones, is a massive problem for families today. I’m investing in ROXi as it provides an antidote; getting kids off smartphones and iPads and gets them enjoying lots of different musical experiences together with their parents, siblings and friends - and all through a fun interactive experience that involves music, games and singing.”
Dennis continued, “Kids today spend over 23 hours per week glued to their small screens, over twice the time they spend interacting with their family. The big picture is we need to get kids off tablets, phones and headphones, and to start enjoying fun shared entertainment experiences together. The next revolution in family friendly entertainment will be big screen centric experiences, and ROXI is well placed to kick start this revolution.”
Rob Lewis, CEO of ROXi commented, “Ron Dennis is the one of the UK’s most successful entrepreneurs, having founded and grown the McLaren Technology Group. Having Ron join our team will help us deliver ROXi’s shared music experiences to more families, more rapidly, in more countries, giving families more quality time together and less time isolated on smartphones and tablets.”
This new investment from Ron Dennis CBE comes just ahead of ROXi’s IPO. Lewis commented; ‘Ron Dennis’ investment in ROXi enables the business to ramp up marketing and manufacturing for Q4, just ahead of our planned IPO on AIM which will take place as soon as BREXIT and other political uncertainty is resolved”.
Competitively priced at just £99.95 (including 12 months premium music access), ROXi is the world’s only ‘Made-For-TV’ music entertainment system. Designed to get friends and family singing, dancing, playing, and listening to music together in the home, the ROXi system plugs into any flat screen TV, features a 2-minute set-up, and works with any speakers available. ROXi’s soft touch hand-held controller with built-in microphone for voice search and singing, gives access to a comprehensive high-quality ad-free catalogue of over 35 million songs from all the major and independent labels, as well as karaoke singalongs, music games, worldwide radio access and so much more. ROXi’s fun and immersive big screen user experience brings friends and family together for shared joy and entertainment.
ROXi’s main backers are:
- Rob Lewis, Founder CEO, previously founded the world’s first mobile music streaming service
- Robbie Williams, ROXi Curator
- Sheryl Crow, ROXi Curator
- Alesha Dixon, ROXi Curator
- Ron Dennis CBE, Founder of the McLaren Technology Group
- Henrik Holmark, previously CFO/Director, Pandora
- Nigel Wray, Domino’s Pizza entrepreneur, Owner of Saracens
- Peter Cornell, previously MD, Terra Firma
- Paul McGuiness, Previously Manager, U2
- Mark Gretton, Previously Founder CTO, TomTom
- Rob Dickins, Founder, The BRITS
- Universal Music Group
- Sony Music Entertainment
- Warner Music Group
*CensusWide research commissioned by ROXi: Sample 2,000 UK respondents.