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Neil Young's PonoMusic Equity Crowdfunding Campaign Passes $6.2 Million

PonoUPDATE:  As of Friday morning, the PonoMusic Crowdfunder equity investment campaign has passed $6,267,700 or 157% of the $4,000,000 goal. The round will close on September 1.

Original Story: After a successful Kickstarter campaign for the PonoMusic Player, PonoMusic recently launched an equity crowdfunding campaign on Crowdfunder. While PonoMusic's rewards-based crowdfunding campaign raised over $6.22 million, it's starting to look like investors who want in on PonoMusic are going to help it go even further this time. As of early Monday morning, investment commitments stand at over $5.24 million.

PonoMusic's Crowdfunder campaign is designed to raise money from accredited investors with minimum investments of $5000.

The campaign initially launched August 1 but was not announced publicly until August 13. By that point they'd raised "commitments" of $1.43 million with a stated goal of $2.5 million.

That was Wedneday. Since then they've raised the goal to $4 million as commitments rose. Now investors are committed to over $5.24 in the early hours of Monday morning. With a closing date of September 1, there's plenty of time for this campaign to go a lot further.

Though PonoMusic has not listed any investors at least 874 members of the platform are following PonoMusic's campaign on Crowdfunder.

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Hypebot Senior Contributor Clyde Smith (@fluxresearch) recently launched DanceLand. Send news about music tech startups and services, DIY music biz and music marketing to: clyde(at)fluxresearch(dot)com.

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