BandPage has been acquired by Google owned YouTube for a reported $8 million. That's far less than the $27.6 million raised by the startup since launching in 2009. A deal memo shared with TechCrunch states that preferred stock will be converted into cash, but common stock will be cancelled without payment.
All of this points to a sale made under pressure, and sources tell Hypebot that BandPage was running low on cash. Whatever the reasons for the sale, BandPage may have found the ideal home in YouTube, with its large base of creators and fans.
BandPage is already heavily integrates into both YouTube and Google, delivering photos and band info for more than 500,000 artists, along with direct to fan offerings from hundreds of musicians. But on Friday, just hours after the deal was announced, speaking at the Pollstar Live! touring industry convention in San Francisco, Google's Dave King expressed excitement at now being able to do more,
A Group Product Manager at Google, King created YouTube's Content ID platform and currently leads efforts building artist solutions on YouTube including Music Insights. "BandPage helps artists sell fans things like VIP tickets and merchandise," said King. "We can now bring these tools to more artists and YouTube creators."