When Apple announced it was acquiring Beats in 2014, lots of critics scoffed and some even suggested the purchase was evidence that Tim Cook was just grasping at straws, with a good measure of racist-tinged denigration of the value of LA-based music firm on the side. Why was the most valuable, competent and profitable tech company on earth prepared to spend $3 billion– by far the most it had ever paid in an acquisition– to get Beats?

Source:: Apple Insider