The company was founded by Dr. Dre and Jimmy Iovine as early as 2006. The first product was, however, only released in 2008. Initially, several models of headphones were produced in cooperation with Monster Cable Products. This partnership was terminated in 2012.
Since then, Beats produce their products themselves.
The Taiwanese technology-corporation HTC purchased 50.1 percent of Beats’ shares for 300 Million US-Dollars on the 11th of August 2011.
25 percent of the shares were, however, sold back to Dr. Dre and Jimmy Iovine in 2012.
Beats acquired the online-music-service MOG on the 2nd of July 2012. A little later, in September 2013, HTC withdrew from Beats entirely.
Young and Iovine bought back parts of the shares with the rest going to investor Carlyle Group who purchased shares worth 500 Million Dollars.
Apple Inc. announced their purchase of Beats Electronics for 3.2 Billion Dollars on the 28th of May 2014.
Since this time Beats is a part of Apple Inc. - which ensures a close integration of devices and services (Beats Music) into the Apple ecosystem.