Want big licenses? These days, the best route is to burn a ton of cash, get really, really big, and force rightsholders to either (a) license you, or (b) shut you down. Luckily for Flipagram, option (a) is getting easier and easier to pull off, thanks to an ever-weakening recording industry and lots of available cash.
Like, $70 million in Series B funding. The latest round was led by Sequoia Capital and included Kleiner Perkins, Index Ventures, and Caufield & Byers.
The app, which allows users to set photos and videos to music, has also conveniently entered licensing deals with some key labels and publishers.
They’ve struck deals with Universal Music Group, Sony Music Entertainment, Warner Music, Merlin, The Orchard, Sony/ATV, Universal Music Publishing Group, and BMG.
Flipagrams are about 30 seconds in length and are similar to Snapchat Stories, but Flipagram says their platform is for stories that you don’t want to disappear. They also provide links to purchase the music used in Flipagrams.
Nina Ulloa covers breaking news, tech, and more: @nine_u