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Business News (more headlines) 04-09-2014

BandPage Raises $9.25 Million In Series C Financing To Become The Largest Musician Platform In The World

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BandPage, the platform more than 500,000 musicians use as their central online profile to reach, engage and monetize the billions of music fans around the world, has announced that it has closed a $9.25 million Series C round of financing. The financing was led by GGV Capital and Mohr Davidow Ventures. This round brings BandPage's total capital raised to over $28 million. BandPage will use the additional capital to continue to expand and deepen its partnerships with the world's largest music services and to create new and powerful sources of revenue for musicians.

"BandPage is playing a critical role in empowering musicians to further their careers in the digital age"

Since its inception in 2010, BandPage has grown to become one of the most widely adopted platforms in the world by musicians. Musicians create a BandPage Profile to directly engage and monetize their fans across some of the largest music services in the world. Musicians add their content such as bios, photos, videos, songs and tour dates to their BandPage Profile along with commercial offers such as tickets, VIP experiences and merchandise. Musicians can use their BandPage Profile to power their content and items for sale anywhere their fans are, including the BandPage Partner Network, their website, social networks and more. Over the past year, the BandPage Partner Network has added partnerships to power VEVO, Google, Clear Channel, Live Nation, Rhapsody, Xbox Music, LyricFind and more. For the first time ever, musicians can display their content and items for sale to hundreds of millions of fans across these platforms.

"We are in the musician business," said J Sider, Founder and CEO of BandPage, "the business of driving revenue growth and expanding fan bases on behalf of musicians big and small around the world. For the first time in the history of the music business, the industry has the information and technology necessary to reach billions of fans year round at the right time, with the right offer at the right price. Making that a reality for musicians is why we come into work everyday."

"BandPage is playing a critical role in empowering musicians to further their careers in the digital age," said Brian Message, manager of PJ Harvey and Nick Cave, co-manager of Radiohead and chairman of the Music Managers Forum. "The future of the music business is the direct musician-to-fan connection and, by working with the music services to build a channel through which musicians can directly reach their fans with content and commercial offers, BandPage is helping musicians capitalize on the tremendous opportunity facing the music business today."

"We believe that the music industry is on the cusp of dramatic revenue growth as it emerges from a period of profound disruption," said Hany Nada, partner at GGV Capital. "There are billions of fans engaged with music online making it the most engaged class of content online. We believe that BandPage is the company best positioned to help musicians take advantage of the revenue opportunity this engagement represents."

"Our investors have always played a critical role in helping to grow the company and drive the vision forward," said J Sider. "GGV and Mohr Davidow's passion for what we are building and faith in our team gives us an incredibly strong foundation from which we can help to build the future of the music business."

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