Magnifi To Shut Down After Raising $9.35 Million
From launching as DeliRadio and then pivoting to MAGNIFI, this team always focused on promoting local music scenes and new artists. Now, like too many of their peers in music tech and after raising $9.5 million, MAGNIFI is shutting down.
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Live music discovery platform MAGNFI will be shutting down on August 1st. No reason was given for the closure, but in an email to users, the team wrote, "like all great shows – MAGNIFI’s has come to an end. So many people poured their all into this, and the decision to wind up was difficult, but ultimately it is the right thing to do and the right time to do it."
MAGNIFI hoped to connect fans, venues and artists with a combination of show listings, preview tracks from the artists playing and ticketing. Founded in 2013, the startup had raised $9.35 million, launching first as DeliRadio before expanding its offering and relaunching as MAGNIFI.
Investors included Javelin Venture Partners, Lead Edge Ventures and Scott Booth. Co-founders in the Emeryville, California based startup were Wayne Skeen, Chris Ross, Sara Mertz and Howie Cockrill.
