Funding, Product Update - Tuesday, April 8, 2008 10:15 - 0 Comments

How to waste $5 million

From Mashable: Sellaband gets $5 million

OK, so let me make sure I get this straight. You are a few pimpley faced teenagers that picked up the guitar to try to do better with the ladies. You have a dude that wears eye-liner who ’sings’ songs about the pain of High School love and cold french fries. And you can’t understand why no record company wants to pay you money. Is this who Sellaband is trying to court?

The business model is amazing. Sellaband makes 30% on album sales of it’s amazing array of:

18 recording artists

Really? Really? REALLY?

Sellaband received $5 Million for this. I’m actually quite speechless…which is a feat in itself.