The New York-based startup offers a fan management platform that allows artists to manage their e-mail, mobile and social network communications.
Damntheradio is a San Francisco-based startup that offers artists a tool to enhance and improve an artist's Facebook page to better share music and connect with fans. Its three co-founders will join FanBridge full time and will be the foundation of FanBridge's San Francisco office.
The acquisition makes good sense because of the obvious potential synergies. Damntheradio, young and in need of customers, is being folded into more established company with complimentary services and an existing customer base. FanBridge gets to push Damntheradio's social marketing tools in a much more cost-efficient way than Damntheradio would be able to do on its own. On paper, it's a win-win.
Participating in the round were Alex Zubillaga, Chris Fralic (First Round Capital), Founder Collective, 500 Startups, Maurice Werdegar, and Matt Keiser (Grape Arbor VC). Zubillaga was previously an executive VP of digital strategy at Warner Music Group and left the company in 2008. Before his time at Warner, he co-founded venture capital firm Lexa Partners with his brother-in-law, Warner chairman and CEO Edgar Bronfman, Jr.
Zubillaga has invested in such startups as doubleTwist, Timetric, Yipit and Mendeley, according to media reports.