(UPDATE 3) London based Songdrop, a Pinterest-like online music playlist creator, has closed it's first investment round of $150,000 in seed funding from SOIC Capital. Users create mixes with songs from across the web including YouTube, Soundcloud, Vevo, Pitchfork and blogs with a Drop It button.
Songdrop was one of the finalists in last year’s EMI Innovation Challenge and TechPitch 4.5. The service is free to the user, but paid mobile apps are in development as well as in-app purchases to enhance the playback experience and monetize the app.
Several label execs have praised Songdrop for music discovery and capture. Jason Rothery, Direct to Consumer and Artist Services Manager of Warner Music Group, says: "We are discovering music via so many different channels now – blogs, websites, YouTube, Twitter, Soundcloud etc and it is often hard to remember where you heard what, meaning music can sometimes be forgotten.”
Songdrop was founded 2012 by Brittney Bean, Richard Taylor and James Towers. Chris Helm, previously UK Finance Director with EMI Music Publishing, has recently joined the team as Finance Director to develop the financial strategy for Songdrop.
Watch a demo: