Dr. Dre and Jimmy Fallon collaborate on streaming service Daisy.
    Music moguls Dr. Dre and Jimmy Iovine have officially launched a new streaming service titled "Daisy" backed by $60 million in funding.

    The pair's company Beats Electronics secured the investment from Access Industries and a group of private investors, who will launch "Daisy" sometime in late 2013. "Daisy" is being launched off of the streaming service MOG, which Beats Electronics purchased in 2012 for an undisclosed sum.

    "Beats was always about helping people re-discover the magic in the experience of listening to music," Jimmy Iovine said. "Now that we are well along the way to addressing the quality of audio playback with Beats headphones and speakers, Daisy allows us to re-introduce the same magic into the process of music discovery and consumption."