8tracks revised its offering cap upward to $4.04 million and received $1.71 million in commitments

For more information visit http://www.XDATA.co
Change: offered +185% / raised +34% / placed 42%
XDATA – February 8th 2016
8tracks upped its financing to $4.04 million from $1.42 million after receiving new commitments. An additional $430,000 worth of securities was placed by the company with nine investors since the company last released data almost a year and a half ago. This brings to $1.71 million the amount raised from the thirty-six backers who subscribed to the offering. The offering is most likely closed, based on the structure it was scheduled to close on August 18th 2015. This is the first offering of unregistered securities under regulation D reported by 8tracks.
The company is a social music platform where users can listen to and create playlists. Listeners can search for a mix by artist or genre, stream it in a legal, radio-style manner, and follow others who make compelling mixes. The platform was designed to discover music and communicate via music. Investors include Index Ventures, Andreessen Horowitz, SoftTech, SPA, Pete Tong, and Ben Drury
The company, headquartered in San Francisco CA, is led by David Porter (CEO). 8tracks elected to keep its revenues undisclosed.
Offering recap
Status: Intermediary close
Company: 8tracks
Industry: Other Technology
Amount offered: $4.04 million
Amount placed: $1.71 million
SEC filing: Source
First sale: 08-18-2014
Data as of: 02-08-2016

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