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Direct-To-Fan CHNL Grabs $1.2 Million Investment, Launches With Thievery Corporation

image from chnl.pro Today stealth mode startup CHNL announced the addition of $1.2 million in funding from the Giantstep Angel Network and its first first public product in partnership with electronic music pioneers Thievery Corporation. V1 CHNL serves as a direct to fan "channel" for the June 28th release of the artist's "Culture Of Fear" album including free streaming, purchase, a subscription service, back catalog and videos.

"CHNL enables us to have a much closer and constant relationship with our fans," states the Thievery Corporation co-founder Rob Garza. "Through the tour and into the fall, we're going to be revealing exciting new content and our CHNL will be the place to experience it."

"V1 of the Thievery Corporation CHNL is only a fraction of what is to come," according to CHNL Co-founder and CEO John Wander. "Beyond V1 we remain in stealth mode so the most I can say about the future is that we are committed to innovation and being at the forefront of content empowerment."

CHNL says that its management team is comprised of veterans from such companies as Ingrooves, FiltrBox (acquired by Jive Software), Topspin, TBWA/Chiat Day, Ariba, Global IP Sound (acquired by Google), Reverbnation, MySpace Music, B Vision, Get Satisfaction, TrueChoice Solutions, Extole, and Marketo.

The company is currently in discussions with venture capital firms for additional funding for their Series A Round.

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3 Comments

  1. I love seeing new companies enter the digital music lair. It leads to an interesting question though , and that is “Do any music companies companies start up as a profit making company.”
    We seem the be in the new school of thinking that starting an online business means preparing a business plan, getting corprorate funding, grabbing artists and seek a high valuation.
    When i started up Ditto we had to make a profit at the end of the first month or we were out of business. This may have been a harder slog but it means now owning 100% of a profit making business, rather than selling 40-50% before it returns a profit.
    I look forward to reading more about CHNL,
    Lee
    http://www.dittomusic.com

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