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# Music Tech Funding: 8tracks, Exploration And A Fundraising Tip From Bop.fm’s CEO
- URL: https://www.hypebot.com/music-tech-funding-8tracks-exploration-and-a-fundraising-tip-from-bopfms-ceo/
- Published: 2014-08-29T11:00:00.000Z
- Updated: 2014-08-29T11:00:00.000Z
- Description: This was a busy week for funding news. In addition to SeatGeek, KKbox, Rockbot and JoyTunes, 8tracks was revealed to be closing a $1.28 million round and Exploration announced $5. Continue reading [https://www.hypebot.com/hypebot/2014/08/music-tech-funding-8tracks-exploration-and-a-fundraising-tip-f
- Author: admin
- Tags: Music Tech, Startups & Funding, #wp, #wp-post, #Import 2026-01-21 10:38

[![Fundraising-maik-meid-flickr](http://hypebot.typepad.com/.a/6a00d83451b36c69e201a73e0b549e970d-200wi "Fundraising-maik-meid-flickr")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201a73e0b549e970d-popup?ref=hypebot.com)

This was a busy week for funding news. In addition to SeatGeek, KKbox, Rockbot and JoyTunes, 8tracks was revealed to be closing a $1.28 million round and Exploration announced $5 million in funding. Plus, a bonus for the week came in the form of a fundraising tip from Bop.fm CEO Shehzad Daredia.

**8tracks' New $1.28 Million Round Revealed**

[8tracks](http://8tracks.com/?ref=hypebot.com), whose "Internet radio \[is\] created by people, not algorithms," was [revealed](http://venturebeat.com/2014/08/28/hot-playlist-focused-music-service-8tracks-raises-1-28m/?ref=hypebot.com) to be closing a $1.28 million round of new funding according to an SEC document:

"Up until now the company has not only survived off of $1.5 million in funding, but is also profitable — not an easy task for most music startups…Today’s filing shows that the total funding round amount could end up being a bit higher at $1.4 million when it finally closes."

**Exploration Receives $5 Million In Funding**

[Exploration](http://www.exploration.io/?ref=hypebot.com), [which](http://exploration.io/faq/?ref=hypebot.com) "exists to help writers, artists, labels, publishers, media companies, and those that represent them get the most from YouTube," recently [announced](http://www.billboard.com/articles/business/6229307/exploration-5-million-funding-pay-digital-royalty-advances?ref=hypebot.com) a funding round of $5 million from unidentified sources.

The money will allow Exploration to gives advances to clients on expected royalties making Exploration the "first digital rights company to offer such advances."

**A Fundraising Tip From Bop.fm CEO Shehzad Daredia**

"[Create Time Pressure](http://techcrunch.com/2014/08/28/3-secrets-to-startup-fundraising/?ref=hypebot.com)"

"A tactic that’s worked for me when fundraising is to create the perception of time pressure so investors have a forcing function. A high-risk, high-reward way to take that one step further is to very politely and diplomatically acknowledge that the VC is probably not well-equipped to make a decision fast enough to meet your timeline."

"For example, stating, ‘I know you guys must have a process to go through, so I understand if you can’t make our timeline.’ Issuing such a subtle, playful challenge to one VC resulted in them literally running after us in the parking lot shortly after our first meeting and saying, ‘We’re in for $2 million – is that fast enough for you?'"

*\[Thumbnail photo "Fundraising" courtesy [Maik Meid](https://www.flickr.com/photos/frnetz/13976826742/in/photolist-ni5TDq-fMDpzo-8DCmbM-8giQG1-acsxpL-9voANQ-6rDUDE-fLDWUK-6Gzeib-7dFjrJ-acpQ2T-acrUjU-acsEJh-acpv7z-acrSyL-acrMk7-acrZjf-acsDCq-acs389-acsupY-acsmUU-acrMMf-acsEdE-acp52x-acpbJn-acpbTn-acp8HM-acpNBa-acsDPy-acrVjq-acrZ6S-acpaoa-acpNuT-acoXQz-acpSLe-acpzG6-acrPnL-acp9P4-acpReX-acrYrJ-acpawi-acsGmA-acpxqX-acpbyr-acsDHm-acsnU1-acsx6j-acsEpy-acpBTM-acrY1h?ref=hypebot.com).\]*

**More:**

- [SeatGeek Raises $35 Million From Big Name Investors: Nas, Peyton Manning & More](https://www.hypebot.com/seatgeek-raises-35-million-from-big-name-investors-nas-peyton-manning-more/)
- [Music Streamer KKbox Raises $104 Million For International Expansion](https://www.hypebot.com/music-streamer-kkbox-raises-104-million-for-international-expansion/)
- [Rockbot Scores New Funding From Universal Music, Detroit Venture and More](https://www.hypebot.com/rockbot-scores-new-funding-from-universal-music-detroit-venture-and-more/)
- [JoyTunes Raises $5 Million, Gives Registered Teachers Free Access](https://www.hypebot.com/joytunes-raises-5-million-gives-registered-teachers-free-access/)

*Hypebot Senior Contributor Clyde Smith ([@fluxresearch](https://twitter.com/fluxresearch?ref=hypebot.com)) recently launched [DanceLand](http://dance.land/?ref=hypebot.com). Send news about music tech startups and services, DIY music biz and music marketing to:*

clyde(at)fluxresearch(dot)com

.