Tagged: music

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
Advertisements

Splice garnered new subscriptions and upped its offering to $5.25 million


For more information visit www.XDATA.co
Change: offered +17% / raised +16% / placed 90%
XDATA – January 7th 2016
Splice‘s $4.5 million equity financing round increased by 17% to cap at $5.25 million. An additional $650,000 worth of securities was placed by the company with three investors since the company last released data in September 2014. This brings to $4.75 million the amount raised from the fourteen backers who subscribed to the offering. The offering is structured as indefinite and will remain open until fully subscribed. Up to now Splice had raised an estimated $2.75 million in unregistered securities via one financing round.
Splice markets and develops a cloud-based platform for music creation, collaboration and sharing. Investors include True Ventures, Scooter Braun, Tiësto, Steve Angello, AM Only, WME, Eight Equity, Union Square Ventures, Lerer Ventures, First Round Capital, SV Angel, and Box Group.
The company, headquartered in New York NY, is led by Matthieu Aimonetti (President). Splice elected to keep its revenues undisclosed.
The board of directors includes Adam D’Augelli, Andrew Weissman, Jared Hecht and Steve Martocci.The company has raised an estimated total of $7.5 million via private unregistered security offerings.Splice is registered under the name Distributed Creation.
Offering recap
Status: Intermediary close
Company: Splice
Industry: Other Technology
Amount offered: $5.25 million
Amount placed: $4.75 million
SEC filing: Source
First sale: 08-20-2014
Data as of: 01-06-2016

Late filer Rdio reports issuing $75 million worth of equity and raising $33 million in separate transactions


XDATA – October 1st 2014

pulser mediaLate filer Rdio disclosed issuing $75 million worth of equity as part of a transaction a year ago where common shares of subsidiaries were acquired by the issuer in exchange for common shares of the issuer. According to three concurrent filings, this is not the first time the company files unregistered securities with the SEC.
The transaction is related to the deal made with Cumulus Media who was reported as taking a major stake in the company about a year ago. Though The New York Times reported it was a no-cash deal, it should nonetheless have triggered a form D filing within fifteen days since securities were issued.

The company is a freemium digital music service that offers ad-supported free streaming service and ad-free subscription services in 60 countries. The company is backed by Cumulus Media and Janus Friis.

The company was registered in 2012 and has its headquarters located in San Francisco CA. Rdio elected to keep its revenues undisclosed.
The executive team includes Anthony Bay and Maikao Grare.
The board of directors includes Andrew Larner, Janus Friis Degnbol and Mark Dyne.

Rdio has reported in concurrent filings closing three offerings which raised $33.27 million. The company has raised an estimated total of $108.27 million via private unregistered security offerings.

Rdio is registered under the name Pulser Media

Offering recap
Status: Completed
Company: Rdio
Industry: Other
Amount offered: $75 million
Amount placed: $75 million
First sale: 09-13-2013
Data as of: 10-01-2014

For more information visit www.XDATA.co

8tracks files for first close after selling 90%


XDATA – August 28th 2014

8tracksA first close of $1.28 million was initiated by 8tracks on its $1.42 million equity offering. So far twenty-seven investors committed to the non-brokered placement which started a little over a week ago. The company is filing for the first time a security registration exemption with the SEC.

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. The platform has six million users and growing.

The company, headquartered in San Francisco CA, is led by David Porter (CEO). 8tracks elected to keep its revenues undisclosed.
The executive team includes Remi Gabillet.

Offering recap
Status: First close
Company: 8tracks
Industry: Other Technology
Amount offered: $1.42 million
Amount placed: $1.28 million
First sale: 08-18-2014
Data as of: 08-28-2014

For more information visit www.XDATA.co

weeSPIN disclosed $200,000 first close


weespinA total of $200,000 was raised by weeSPIN as part of its $500,000 unregistered private placement. The non-brokered equity securities started to be bought by five investors last Wednesday. The offering will remain open until May 2015 while an additional $300,000 worth of securities is sold to investors. The company is filing for the first time a security registration exemption with the SEC.

weeSPIN markets and develops a social application (app) that allows users to compile song playlists using Spotify or Soundcloud, add pictures, share them and meet people who are like minded, musically speaking.

The company, headquartered in Santa Monica CA, is led by Darius Fong (President). weeSPIN elected to keep its revenues undisclosed.
The executive team includes Jonathan Rourke.

Offering recap
Status: First close
Company: weeSPIN
Industry: Other Technology
Amount offered: $500,000
Amount placed: $200,000
First sale: 05-28-2014
Data as of: 05-29-2014

Collaboration platform for musicians, Musistic, files details on its $200,000 financing


musisticMusistic raised $200,000 from three financial backers almost two weeks ago according to information disclosed by the company. The non-brokered equity offering was fully subscribed. No securities were previously sold under a registration exemption with the SEC. The company is backed by Start Co. a Memphis based accelerator.

The company is marketing a plug-in application (app) designed by and for musicians for remote collaboration. Musistic allows digital audio workstation (DAW) users to remotely collaborate asynchronously regardless of the platform they are using.  The software which works with almost every DAW on the market, is using the industry standard virtual studio technology (VST) and/or Audio Unit format. The plug-in is sold with cloud storage space for a price ranging from $10 to $200 a month.

James Lattimore, (Chief Executive Officer) leads the Memphis TN based company which was registered in 2013. Musistic elected to keep its revenues undisclosed.
The executive team includes Brian Wentzloff, Justin Olita and Vince Rogers. The board of directors includes Everett Stephens, John Ogle and Roger D. Strange.

Offering recap
Status: Completed
Company: Musistic
Industry: Other Technology
Amount offered: $200,000
Amount placed: $200,000
First sale: 2014-01-31

First close filed by virtual piano teacher, Playground Sessions, after raising 45%


playgroundPlayground Sessions initiated a first close after placing $800,000 with twelve investors. The company’s $1.76 million non-brokered equity financing started to sell almost two weeks ago. The offering will remain open until January 2015 while an additional $960,000 worth of securities is sold to investors. Two previous unregistered financing rounds raised an estimated $1.25 million.

The company designed a downloadable educational application (app) to learn how to play the piano while playing popular songs. It combines elements of gaming, such as real-time feedback and scoring, with modern learning techniques an engaging learning environment. The software company recommends to own a Midi or USB keyboard to take full advantage of the services such as progress visualization, otherwise it can be used for arrangements, print sheet music and access video song tutorials.

The company, headquartered in New York NY, is led by Christopher Vance (CEO). Playground Sessions elected to keep its revenues undisclosed. The executive team includes Christopher Vance. The board of directors includes Andrew Howlett, Michael Keriakos, Neil Munn and Terry Lewis.

Offering recap
Status: First close
Company: Playground Sessions
Industry: Other Technology
Amount offered: $1.76 million
Amount placed: $800,000
First sale: 2014-01-31

Online music lessons company successfully closed on a $90,000 equity private placement with five investors


Lessonface.com successfully completed its $90,000 equity offering which started last month. The non-brokered private placement was subscribed by five investors. This is the first time the company is raising money on the private placement market.

The company offers live, face-to-face music lessons taught over live video. The company launched its service in February 2013 after being in beta for about six months.

There are other players on the virtual music teaching market such as Playground Sessions which last financing round was in May 2013 and raised an estimated $1.25 million in total.

Claire Cunnigham (Founder and CEO) leads the Brooklyn NY based company which was registered in 2012. Lessonface.com elected not to disclose its revenues. The executive team includes Ashford Tucker (Business Develpment and Legal).

Offering recap:
Status: Completed/Final close
Company: Lessonface.com
Industry: Other Technology
Amount offered: $90,000
Amount placed: $90,000

First close of $401,000 announced by the developer of iJukebox on its $500,000 offering


DisruptiveApps, Inc. successfully placed 80% of its $500,000 non-brokered equity offering with sixteen investors as part of a funding agreement signed this month. The company expects to raise an additional $99,000 to close the offering within a year. The company raised an estimated $2.25 million via two offerings until now. The company is backed by ARC Angel Fund which invests in seed and early-stage companies with high growth potential.

DisruptiveApps develops and markets a business to business (B2B) application programming interface (API) platform called iJukebox which enables retailers to deliver licensed in-store digital music and content to their customers while letting them vote for songs to be moved up or down the queue. The app allows retailers and advertisers to market to an engaged audience and provides customers with personalized entertainment options.

Jonathan “Chip” W. Selley (Co-founder and President)  leads the Boston MA based company which was registered in 2011. DisruptiveApps elected not to disclose its revenues. The executive team includes Dennis Rivera (Co-founder and VP Operations, Finance and Corporate Strategy). The board of directors includes Justin P. Morreale and Richard L. Smith

Offering recap:
Status: First close
Company: Disruptiveapps, Inc
Industry: Other Technology
Amount offered: $500,000
Amount placed: $401,000

Virtual music teacher, Playground Sessions, Inc. raises equity


Playground Sessions, Inc. formerly known as ZAG Music Group, Inc. raised 90% of its $750,000 equity offering from nine investors. A prior offering for $500,000 in debt was launched in October 2012. Both offerings were placed directly without the services of a placement agent.

The company designed a downloadable educational application (app) to learn how to play the piano while playing popular songs. It combines elements of gaming, such as real-time feedback and scoring, with modern learning techniques an engaging learning environment. The software company recommends to own a Midi or USB keyboard to take full advantage of the services such as progress visualization, otherwise it can be used for arrangements, print sheet music and access video song tutorials.

The company provides a choice between becoming a member for $10 per month ($15 per quarter) or purchasing apps which prices range between $2 and $90. The application features also a music store.

Playground Sessions, Inc.,founded in October 2010, is located in New York, NY and is lead by Christopher Vance (CEO). Directors include Neil Munn and Andrew Howlett. It includes as owners David Sides and jazz legend Quincy Jones who is Chief Creative Officer. Alex Ness and Dr. Byron Adams are among the company’s contributors and originators.