Digital Music News - As Funding Runs Dry, Some Music Startups Still Getting Cash

As Funding Runs Dry, Some Music Startups Still Getting Cash

Sunday, January 11, 2009
by presnikoff

The old news is that venture funding is seriously down, though some money is still floating around. Since last fall, VCs have been pointing to drought-like conditions, and surveys and studies reaffirm those statements. The latest comes from Dow Jones Private Equity Analyst, which pointed to just 99 funds raising just $43 billion in the fourth quarter.

That is down from $108 million from 22 funds during the comparable period in 2007, though smart pitches are still rustling rounds. Just last week, concert-focused Songkick lured a $4.65 million round, according to VentureWire. Among other features, Songkick offers customized concert listings, based on personal collections and expressed preferences. The round closely follows a $1.1 million round emerging in late June of last year.

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