Midemlab has named 20 finalists for 2018. Now that SXSW has downgraded the category, this startup competition is, along with a handful music tech incubators like LA’s Techstars Music, Nashville’s Project Music and London’s Abbey Road Red, the best early indicator of what’s coming next in music tech. _____________________________ The…
Category archives: Startups & Funding
UPDATE: Spotify [NYSE:SPOT] Ends Day Down 5.66%
UPDATED: Spotify stock began trading Thursday at $151.43, 11% lower than its $170 Wednesday close, after the streamer missed revenue estimates Wall Street analysts. The stock ended trading on Thursday down 5.66% at $160.38. Spotify’s weaker earnings come amid increased competition and solid, but not inspiring, user growth. Read more…
Spotify Stock Rising Ahead Of Today’s Earnings Report
Spotify [NYSE: SPOT] climbed all day ahead of a today’s earnings report. The stock was up 4% to $170.50, as of 2:45 ET. This, the streamer’s first report since going public, was garnering positive forecasts from analysts.@hypebot will be live tweeting the earnings report starting at 5PM ET.& Read whatthe…
Gibson Guitars Files For Bankruptcy
Guitar maker Gibson Brands filed for Chapter 11 bankruptcy protection on Tuesday. The company said it will continue to operate during the reorganization, but will wind down Gibson Innovations, which is mostly operates outside of the U.S. The Nashville-based guitar maker has struggled with debt ever since its acquisitions of…
No Fee TickPick Acquires Razorgator, Adds 1M Users
[UPDATED] No-fee ticket marketplace TickPick has acquired ticket reseller Razorgator. Details of the acquisition were not disclosed, but Razorgator had raised $60 million in funding from Oak, Kleiner, Perkins, Caufield & Byers and Steamboat since 2001. Suggesting a purchase price well under $60 million, TickPick says that this acquisition came…
Tencent Plans $4B US IPO That Also Benefits Spotify
Tencent Music, China’s largest music streamer, has reportedly invited investment bankers to pitch how they can guide the company through a U.S. IPO valued as high as $4 billion later this year. The music arm of Chinese tech giant Tencent Holdings will reportedly go public before the end of the…
Sonos Files For IPO At $3 Billion Valuation
Sonos is filed to go public as early as June, the Wall Street Journal reported on Wednesday. According to documents filed with the SEC, Sonos hopes to be valued at $3 billion for the IPO. The Sonos IPO comes on the heels of Spotify’s successful direct public stock offering, and…
Rapchat Raises $1.6M For Rap Creation, Sharing App
Rapchat, an app to create and share raps, has raised $1.6 million in funding. The Columbus, OH based startup is consistently among the top 50 music app on iOS and Android and has passed 100 million listens since launching in 2013. Rapchat co-founder Pat Gibson has performed with the likes…
Capitol Music Group Launches Music Innovation Center
Capitol Music Group, has launched the Capitol Innovation Center to help drive future innovation in music and the music industry. Housed in the iconic Capitol Tower in Hollywood, it will house a collaborative workspace and songwriting studio aimed at fostering innovative ideas, bridging the gap between content creators and the…
TheWaveVR Raises $6M For Virtual Reality Music Platform
TheWaveVR, a social virtual reality platform for music and visual arts experiences has closed a $6 million Series A funding round led by RRE Ventures along with Upfront Ventures, KPCB and the Greycroft VR Gaming Tracker Fund. Strategic investors in the round include Andy Ross from OK Go; Alex Chung,…