Social Music Streamer Whyd Raises $700,000, Exits Private Beta
(UPDATED)French music streamer Whyd has announced a $700,000 seed round from local private investors; and its exit from private-only beta. Wyhd curates tracks from YouTube, Vimeo, Soundcloud and mp3 blogs.
The legality of curation from other sites without direct licensing has recently been challenged by the RIAA.
Its a strategy also being tested by other startups, including the popular Soundrop. Whyd hopes to differentiate itsself by creating a music based social network.
But the RIAA may have a different plans. Last month, the US powerful music trade group sent a cease and desist notice to Hypedmusic. The startup's teenage founder decided to shut down rather than argue whether or not the DMCA's safe harbor provisions were applicable.
Whyd and similar startups believe that they are helping users discover more new music. Half a million tracks have been added tp and shared on Whyd. “We’re not talking about Top 40 mainstream hit songs but about indie tracks, remixes and playlists discovered by a unique community of music lovers around the world,” co-founder Gilles Poupardin told TechCrunch.