Imagination Technologies ups investment at Audioboo Hossein Yassaie, Imagination's chief executive, added: "If you want people to contribute to radio, Audioboo is the most effective way of doing that. It's about making the broadcasting industry much more modern - much closer to where the internet is [in terms of harnessing user-generated content]. Imagination, which already owned just over a third of Audioboo, has swapped its shares for a stake in UBC Media, making UBC Audioboo's biggest investor with just over 40pc of the firm. Under the terms of the deal, Imagination has also acquired UBC shares for cash, handing it a total of 9.8pc of the listed media business. Shares in UBC jumped more than 20pc to 2.29p in morning trading, pushing its market capitalisation to nearly £4.5m. The agreement values Audioboo at around £1m - far short of other social networks. The firm, which allows users to share short audio files swiftly and easily, has 300,000 registered subscribers and is growing that figure at around 7pc a month. Audioboo's founder, Mark Rock, and around five individual investors own the rest of the business. Imagination, which also designs microchips for products such as Apple's iPad and iPhone, saw its shares rise 5.6 to 493.40p in morning trading in London.