These are tough times for music tech startups and even tougher times for those who bet on closed fam communities. First Crowdmix failed spectacularly, now comes news that Bkstg has stumbled badly.
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High-profile music tech startup Bkstg has seen a shakeup in its senior executive suite with the departure of both its president and CEO.
CEO Ran Harnev and president/Chief Revenue Officer Erika Nardini, both former AOL execs, exited the firm in July. Three Six Zero Group executive James Sealey, who originally joined the firm as SVP of Development and head of music, will take over COO duties and founder and chairman Ori Birnbaum will see his role at the company expanded with new executive duties.
The company, which positions itself as a ‘platform where fans can watch exclusive videos, listen to music, be the first to buy limited edition merch or VIP tickets, and connect directly with other fans’ focuses on a business model of selling VIP experiences to fans.
However, the company has drawn criticism from former employers over management practices, low pay and a lack of transparency.
“Not enough product knowledge and a reluctance to listen to employees generally. Too much emphasis on ‘fake it till we make it’ and making a product that is there just to be sold to the highest bidder, rather than creating the best user experience for both the artists and fans. No strategy,” one former employer wrote on Glassdoor.com, according to Music Business Worldwide.
via Celebrity Access