MyMusicTaste, a global crowdsourcing platform for music and live events, raised USD 11 million for their Series C round. This investment round was jointly conducted by KTB Network, Stonebridge and Yellowdog, and existing investors such as Softbank Ventures, Samsung Investment, Formation 8, Bokwang Ventures Investment and Golden Gate Ventures which also participated in this round. MyMusicTaste has accumulated a total investment of USD 22.3 million.
Founded in 2011, MyMusicTaste organizes concerts and live events based on requests from fans who want to see performances by specific singers. The decision is based on the location and the number of people who support the event. Unlike the existing system, whereby agencies and performers plan concerts first and then promote the event, it is possible to hold an event more effectively by first analyzing the demand.
Jae-Seok Lee, CEO of MyMusicTaste, said, “The aim of MyMusicTaste is to change the paradigm of the performance or the event industry to be more focused on the needs of the consumers”.
The number of users to date is about 1.23 million, 99% of which are foreign users. The most requested genre is K-Pop, and MyMusicTaste is already a leading player for K-Pop concerts in Europe and North America. Since the company was founded, it has planned about 140 concerts in 32 cities. They have also hosted concerts for renowned artists such as the Dream Theater, Machine Gun Kelly and The xx. The number of concerts and events held this year is 41, and it aims hold 100 events in 2018.
Through this investment round, MyMusicTaste will invest in a variety of event genres, as well as advanced data analysis technology. Also, they are planning to open branch offices in L.A., Europe, and South East Asia within the year.
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This article, entitled “Events crowdsourcing platform MyMusicTaste raises USD 11M to invest in more event genres”, was written in Korean byYohan Son of Platum, edited by AllTechAsia.