April 22, 2016 0 Comments
You can read about the funding here.
March 19, 2016 0 Comments
Kickstarter, the crowdfunding platform for creative projects, has acquired independent music streaming startup Drip and rescued it from shutting down one day before its scheduled closure. Drip was created as a way for musicians to build their community of fans. It was founded in 2012 by Ghostly International founder, Sam Valenti IV and partner Miguel Senquiz. Drip enables fans to directly support and connect with their favourite musician/creator. Members pay a fee, which goes directly to the artist. In return, the member gets exclusive access to the artist’s music, videos, writing and art. According to Kickstarter, the acquisition is just the beginning as the company vows to continue to serve creators, their communities and support creativity.
You can read about the acquisition here.
June 16, 2015 0 Comments
November 25, 2013 0 Comments
The Money in Music
One of companies at the forefront of digital music is Spotify, a fast growing commercial music streaming service from Sweden that has become quite popular in Europe and the US. Last week, Spotify received $250 million in funding from Silicon Valley’s Technology Crossover Ventures to accelerate its growth globally. The funding has pushed Spotify’s valuation to nearly $4 billion. According to sources, Spotify is aiming to introduce its service into new territories, including Japan. The long-term challenge for Spotify is to create a profitable model after paying out royalties. With massive loses in the past years, critics have accused the company of focusing on a drive towards an IPO or trade sale in lieu of creating a long-term sustainable model.
© 2016 Online Agility Investments, Acquisitions and Venture Capital Database | Internet DealBook. All Rights Reserved.