A global concert planning service company My Music Taste announced on October 10th that it has received 11 million USD (12.3 billion KRW) in Series C investments.
The investment was led by KTB Network, and Stone Bridge and Yellow Dog made the new investments into the company. Existing investors, including Softbank Ventures, Samsung Investments, Formation 8, Bokwang Ventures Investment, and Golden Gate Ventures also participated in the follow-up investment. The total amount of investment that My Music Taste has raised was 22.3 million KRW (about 24.85 billion KRW).
Founded in 2011, My Music Taste organizes concerts based on requests from fans who want to see performances of specific artists. It analyzes the place and the number of people on demand. In the traditional performance organizing platforms, performers and planners have to first make plans for the performances and inform fans afterwards. With My Music Taste, it is possible to anticipate and fulfill the actual performance demand through the request of the fans beforehand. Currently, the application has about 1.2 million users, 99% of which are from overseas. The most requested genre is K-Pop, and My Music Taste is already a leader in K-Pop performance planning in Europe and North America.
Since its establishment, My Music Taste has organized around 140 performances in 32 cities. The company has also organized concerts outside of Korea. In 2017, My Music Taste held 41 performances, and it aims for 100 performances in 2018.
With the investment, My Music Taste will develop various genres of performances and advanced data analysis technology. The company plans to establish branches in LA, Europe and Southeast Asia within this year.
Image Credit: MyMusicTaste