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July 19, 2007
Mangrove Invests in Luxembourg's Music Service Jamendo
Jamendo has raised an undisclosed amount of first round funding from Mangrove Capital Partners. The Luxembourg-based company currently offers a relatively small number DRM-free music tracks under Creative Commons license. Jamendo says it currently gets about 500K unique visitors per month and in January it began offering its registered artists a 50-50 rev shard on the ad revenue the site receives.
Jamendo takes advantage of BitTorrent peer to peer technology to distribute tracks at a very large scale.
The company was co-founded in by Pierre Gerard, Sylvain Zimmer and CEO Laurent Kratz who was
Managing Partner USWeb/CKS - marchFIRST. They also launched another startup at Lesfrontaliers.lu
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Posted on July 19, 2007 06:39 PM | Posted to Media | Permalink
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