Eventbrite Passes $1B Mark
Online ticketing service Eventbrite recently surpassed $1 billion in sales in slightly more than four years of operation. Its platform offers a solution for ticketing events at a low cost, including conferences, fund-raisers and concerts. Launched in November 2006, the San Francisco-based company has raised $78.1 million from Sequoia Capital, Tiger Global Management, DAG Ventures and Tenaya Capital.
Crowdfunding Site Raises $15M
Indiegogo, developer of a platform that allows creators to raise money from fans for various projects, has raised $15 million from Insight Venture Partners and Khosla Ventures. Launched in 2008, it provides a service similar to well-known crowdfunding site Kickstarter and music-oriented PledgeMusic. According to a blog post by founder/CEO Slava Rubin, the new funding will help the company improve the service and attract new employees. Indiegogo raised $1.5 million from BOLDstart Ventures in 2011. The platform has hosted 100,000 campaigns in more than 190 countries.
New Record for SoundExchange
SoundExchange, the organization that collects and distributes digital performance royalties, announced that it has paid out $1 billion in royalties since its creation in 2000 and distributed a record $108.6 million in the first quarter of 2012. "This milestone reflects the fact that the digital music industry is evolving and will continue to grow," president Michael Huppe says. SoundExchange collects statutory royalties for the noninteractive digital performance of sound recordings by satellite radio companies and webcasters in the United States.