Being shown the money, MusicHype heads to America to make its play

(sticK - 21 Dec. 2011 ) A key moment for any start-up business is receiving the first tranche of investment from someone outside the original backers.

MusicHype's announcement of a $600,000 input from Christchurch-based NZ Capital Strategies' Rutherford Innovation Fund is, at the very least, a serious indication that an outsider thinks its idea is good.

The one year old Wellington company's 'offer' is a way connect music fans and bands - rewarding fans for their love of a particular artist(s), and enabling the musicians themselves to make money from exclusive merchandise, tickets, digital downloads and other products.

Relatively unusually for a start-up, the company nudged itself into a breakeven position towards the end of 2010.

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http://sticknz.net/2011/01/21/being-shown-the-money-musichype-heads-to-america-to-make-its-play/

For sticK – science, technology, innovation & commercialisation KNOWLEDGE - is a new Wellington based news service concentrating on following the money from ideas to income. Contact editor Peter Kerr at peter.kerr055 @ gmail.com