News - 04/03/2013

Songdrop closes first round of funding, working on a mobile app

Songdrop closes first round of funding, working on a mobile app

Social music startup Songdrop has just announced its first round of funding from SOIC Capital, an early stage private fund working predominantly in the music and fashion industries. The £100,000 round will be instrumental in allowing the company to improve the Songdrop product and push on the release of its mobile application.

Songdrop acts as an online record store that lets you bookmark the music that you stumble across on the net; the company supports a number of sources including Soundcloud, YouTube, Vevo as well as music blogs.

Songdrop’s desktop solution is free to use right now, but the company may be charging for its upcoming mobile offering and may also include in-app purchase options to improve the playback experience.

Lukas Hirsch, a partner at SOIC Capital, explained that company's work is also very interesting from a community building and personalisation perspective. This would make it possible for Songdrop to create alternative revenue streams by bringing bands, record labels and brands to the table in the near future.

Songdrop is not the only platform looking to consolidate a position in the social music aggregation space, with Whyd.com being for example a close competitor. For now though this is an area completely open to innovation and up for grabs since no single company has managed to capture the attention of mainstream consumers.



(Andrea Leonelli)

© 2024 All rights reserved. Rockol.com S.r.l. Website image policy

Rockol

  • Rockol only uses images and photos made available for promotional purposes (“for press use”) by record companies, artist managements and p.r. agencies.
  • Said images are used to exert a right to report and a finality of the criticism, in a degraded mode compliant to copyright laws, and exclusively inclosed in our own informative content.
  • Only non-exclusive images addressed to newspaper use and, in general, copyright-free are accepted.
  • Live photos are published when licensed by photographers whose copyright is quoted.
  • Rockol is available to pay the right holder a fair fee should a published image’s author be unknown at the time of publishing.

Feedback

Please immediately report the presence of images possibly not compliant with the above cases so as to quickly verify an improper use: where confirmed, we would immediately proceed to their removal.