Playmysong - Mobile social jukebox (1 day)
With Playmysong you can control the music around you. Our mobile apps put a powerful controller in your pocket, allowing you to request songs at Playmysong powered bars and parties. Our iOS &
Our co-founder and CTO Timo Kari had the original idea for mobile jukebox already 8 years ago. While developing his skills as a developer he kept the idea under the wraps until 2010 when he met the co-founder and CEO Rami Korhonen. With both founders having background in mobile tech and music, they built the vision for the “foursquare of music” and launched Playmysong as a company in the fall of 2011. After launching the Playmysong Spotify app and Mood Media partner integration in 2012 the company has seen over 40000 social jukeboxes activated around the world. With paying bar and venue customers from 10 countries and key partner integrations in place, Playmysong is starting its bigger international expansion in 2014.
Our business & market situation
Millions of music loving people visit millions of bars and parties every day and hear music from impersonal random or pre-made playlists. We think that people deserve more and that's why we built Playmysong, the mobile social jukebox app, which does two things:
- It works as your free personal remote control for music in parties and venues that use Playmysong.
- You can host your own social jukebox with Spotify's music library or your own music catalogue. Over 40.000 locations have already used Playmysong.
PROBLEM WE SOLVE
Music in parties, bars, coffee shops, events and sports facilities is mostly based on impersonal random music. We allow people to personalize their music experiences everywhere they go.
Bar managers would like to see their customers spending more time in their bars and to bring their friends to get more business. Playmysong makes people stay longer when they can enjoy their favorite drinks with their favorite music and through our social features people in bars can tell their friends where they are and what great music they listen to right now. In the USA we also offer the Playmysong NSM Jukebox service that allows bars to earn direct revenue from song requests.
Our current business model is based on the following services:
- Selling $39/month Playmysong Pro subscription to businesses wanting to enhance their music with our social jukebox service globally. Playmysong helps bars to increase revenue with customers staying longer, spending more on drinks and telling their friends about the bar via our social sharing features. We have a growing customer-base with paying customers already in 10 countries and we will soon launch more advanced services with higher price-points for our existing and new customers.
- Providing the free Playmysong NSM Jukebox service in the USA, which gives bars the chance to earn $0.1 per every paid $0.5 song request that bar customers make. Currently in beta and will be launched in early 2014. This business model will create a scaleable revenue stream as a single night in a popular location can generate hundreds of dollars to be shared between us and music right holders.
- Providing custom brand campaigns for companies wanting to engage consumers with music in social events and locations.
We leverage integrations and partnerships to speed up our growth. We already have a partnership in Finland with Mood Media, the world's largest in-venue music system provider with over 500000 venue-customers worldwide, and NSM Music, the leading digital jukebox manufacturer, in the USA. We plan to take this and other similar partnerships global later this year.
On the private side we have already integrated with Spotify and Deezer and will continue developing these integrations to make Playmysong the way music is listened to in parties and get-togethers. Over 40000 locations have already used Playmysong and this number will grow even faster after we launch our new integrations.
- We make sure that a Playmysong jukebox can be launched with almost any internet connected device.
- We don't license music ourselves, but do smart integrations and partnerships instead. Our Spotify app is our flagship product for consumer use and our Mood Media integration is our flagship product for B2B use.
- We have a unified consumer experience for the people enjoying music in bars and parties.
HOW TO PARTICIPATE
Our funding round will be done in two stages:
- In stage 1 we will raise minimum of 20.000€ with discounted early-mover valuation of 1.6 million €. Stage 1 round will be open for one day only from 8:00am-23:59pm (GMT+2) on November 20th, the day of our pitch at PitchHelsinki event.
- Stage 2 will start on November 21st, the day after our pitch. In stage 2 we will be raising minimum of 175.000€ with 2 million € valuation. Stage 2 will last for 60 days and will end on January 20th 2014.
In short, to get Playmysong shares with 20% discount we recommend acting on November 20th. Please remember that the round will happen in Finnish time (GMT+2).
To purchase shares in Playmysong, please follow the instructions on Invesdor service and download the Invesdor Equity Crowdfunding SHA document, which is included below. In order to become a shareholder of Playmysong, you need to sign the SHA, scan it and send it to Playmysong CEO Rami Korhonen at: [email protected]
CEO and co-founder Rami Korhonen has co-founded three mobile tech startups since 1999. His first startup Small Planet created a mobile chat platform with 1 million users and raised over 3 million € in funding. He also sings in the punk rock band Fumble (www.fumblerock.com).
CTO and co-founder Timo Kari has developed iOS and Android apps for Finland's biggest media companies. He plays guitar in the indie pop rock band 70 vierailijaa (www.70vierailijaa.com)
Both Timo and Rami are hard working tech enthusiasts who love music and believe that everyone should be able to enjoy their favorite songs even when there is no band or DJ playing.