|Series A, 6/2006 ||$1.6M|
|Series B, 4/2007 ||$1.2M|
|Series C, 2/2008 |
Slicethepie is a web based artist financing engine that raises money for artists to professionally record an album. It enables users to invest in, profit from, and trade in artists’ success by turning every music fan into a talent scout and investor.
This is done via a two step process. First the site harnesses the “Wisdom of Crowds” to objectively identify the best new artists. The top 2% of artists are then showcased on the site and every artist/band who attracts sufficient support from investors and fans goes forward to raise $30,000 to professionally record and release an album.
Investors can then trade in and out of their Contracts in artists they have invested in on a fully fledged trading exchange hosted on the site. The ultimate payout on Contracts is directly proportional to the number of singles and albums sold over a 2 year period.
Artists keep all of their copyright and publishing rights, paying a royalty to Slicethepie on the first two years of album sales. Slicethepie revenues are obtained from royalties from sales of albums, advertising, income based on sales of Contracts and commission on the trading of Contracts.