Unlike most Silicon Valley start-ups, Germany’s new music company, Sellaband, is coy about funding. All we get is “Less than three months after this team got together, they had found the financial means to set up this new company, build the website and execute their business plan” and they are based in what is presumably the centre of the German music industry, Bocholt. It is near the border with Holland.
Sellaband allows punters to put up the money to fund the first break for a band; $50k to cut the first CD. $10 from 5,000 fans by a click on a mobile phone? It sounds like they need Bango. A dozen artists funded so far.
They hope to break down fences in the music industry but seem to have started with a fence on their own funding. Perhaps they have 5,000 angels! What will their Equity Fingerprint look like and who will come in for their A round?
They must have to jump some huge regulatory hurdles of looking after other people’s money.
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