Innovation & Job News

Ann Arbor's MyBandStock lands first client, raises seed funding

Wednesday, June 16, 2010

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Ann Arbor

A little more than a year into its life, and MyBandStock is getting its footing in the music scene, landing its first customer and some seed capital.

The Ann Arbor-based start-up that focuses on connecting bands to their fans now counts the After Midnight Project, which is signed to Universal Motown, as a client. MyBandStock will let fans buy "shares of stock" in the band through purchasing tickets and merchandise. Those shares can be used to gain insider access to the band.

"Anyone who buys a t-shirt or a record gets a tag for 100 shares of stock to the band," says Drew Leahy, founder of MyBandStock. "They can take that stock and use it to view exclusive video."

The top 10 shareholders will be eligible to do a video chat with the band at the end of the Warped Tour this summer, in which the After Midnight Project is taking part. It's part of the firm's new business model of connecting underground artists and fans via digital access. User demand dictates which bands will be featured.

MyBandStock has raised seed capital from angel investors, which is enough to hire six employees through the rest of the year. It hopes to sign another 5-10 artists by the end of 2010.

Source: Drew Leahy, founder of MyBandStock
Writer: Jon Zemke