The Next Web

Sellaband closes a round of € 3.5 million funding for international expansion

Written on April 8, 2008 – 8:29 am
Ernst-Jan Pfauth, editor in chief

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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.

Johan Vosmeijer, CEO Sellaband

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.

amazon, funding, holland, prime technology ventures, sellaband

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Why Amazon partnered with SellABand

Written on December 20, 2007 – 4:24 pm
Ernst-Jan Pfauth, editor in chief

As you might have read on Techcrunch UK this week, Amazon is partnering with music community start-up Sellaband. SellABand Creative Director Pim Betist gave the Next Web an inside view of this special deal.

For those of you who haven’t heard about SellABand yet, here’s a short description: 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.

Since the launch in August 2006, 6.000 bands uploaded their musical creations to SellABand. Eleven of them reached the magical number of 5000 believers and recorded an album. Quite a successful concept so far, and it’s about to become even more successful now they teamed up with Amazon.

After the first meeting it soon became clear that SellABand and Amazon would be a perfect match

The media giant turns out to be a ‘believer’ of SellABand. Betist told The Next Web how it got to this point: “Proper, the largest independent distributor of the UK, approached us for a possible partnership. We came to an agreement about off-line distribution. Amazon.co.uk is one of their clients and they thought it would be a good idea to introduce SellABand to them. After the first meeting in the Amazon head office in Slough it soon became clear that SellABand and Amazon would be a perfect match.”

Jeff Belle, Amazon.co.uk’s head of entertainment, about the deal: “Amazon.co.uk is enthusiastic about new music and helping our customers find it, which is why a partnership with SellaBand makes perfect sense for us”.

But what is the real profit factor for Amazon?

Impressive results compared with the innovative character of our business model, stimulated Amazon to partner up with us.

Betist: “The music taste of most consumers is becoming more diverse. People are looking for new music, and that’s exactly what we offer. Amazon saw that we helped eleven artists to collect 50.000 dollars in just one year. At the same time they realized that it’s just the beginning. Those impressive results compared with the innovative character of our business model, stimulated Amazon to partner up with us.”

“Amazon will have a big influence on SellABand”, says Betist. “Part of the deal is that Amazon will help artists who reach 35.000 dollars to collect the other 15.000 by sending out a targeted mailing. Imagine you’re an artist whose music sounds like Robbie Williams’ music and just gained the 35.000 dollars on SellABand. Amazon will then email all its customers who once bought a Robbie Williams album that they have the opportunity to invest in you.”

That’s investing made easy and it will probably boost the number of believers. There are even more advantages for SellABand. Betist: “Amazon will also set up an exclusive SellABand store. Moreover, the Amazone Vine members (the top 50 of Amazon reviewers) will receive a copy of every SellABand album so that they can give their opinion. If the reviewers like the album, it rapidly appears in the charts on Amazon. That will increase profits for the artists as well as the believers. We’re really proud that Amazon makes this possible.”