Dutch music service SellABand received 3,5 million euros to make growth possible. The round was led by Prime Technology Ventures, also a Dutch company.
On SellABand, any beginning band can upload their music to the website. People who like their tunes and foresee a successful future for them, can become a ‘believer’ by investing 10 dollars. As soon as the band counts 5000 believers – and thus gained 50.000 dollars – SellABand steps up and helps the talented folks to record an album with a studio and expert producer. They started their quest for promoting talent 1,5 year ago and already released cd’s for eighteen bands from eleven different countries.
Johan Vosmeijer, CEO Sellaband: “Music fans turn out be really interested in our concept. It’s not the record labels who decide which bands will get an album, thus the fans have the power. We’re really glad that we teamed up with Prime Technology Ventures. They have experience with helping growing Internet companies to become international market leaders. Partly thanks to this investment we can aim for world’s largest music market: the United States.
Sake Bosch from Prime Technology Ventures says that Prime Technology Ventures believes in SellABand’s concept”. “This investment makes sense, since the music industry is heavenly influenced by the Internet nowadays.”
This is a second milestone for SellABand in five months. Last December they partnered up with Amazon. Read the interview I had with Creative Director Pim Betist here.