Day 6: Jeeni announces they have reached their funding target in 6 days and now aim to overfund. If you want to see our pitch click HERE.
Jeeni, the social music platform that brings artists closer to their fans and shares revenue ethically, has successfully raised over £340K on Crowdcube across three rounds.
With 350million streamed music subscribers and market growth up by 39% this year, Jeeni is likely to ride the wave and be a huge success, not only with unsigned musicians and performers but with their superfans.
“We set a target to raise £100,000 for 2.4% with a pre-market valuation of £4M,” says Jeeni founder Shena Mitchell. “And while we have the support of several major investors, the beauty of Crowdcube is that artists themselves can actually own a stake in the company for as little as £10.”
Shena continues, “Jeeni’s mission is to support unsigned music and performers, by helping them build a fanbase. We aim to fast-track careers in the music business, and make sure they take the lion’s share of the revenue that’s raised.
Jeeni is needed more than ever in this Covid-19 New Normal, and we have proved that the demand is high. Currently we can only support 100,000 videos, so we must now move up a gear as we head for global roll-out. This Round Three investment will be used to scale up again and launch our next-generation platform. It will also be used to develop our iOS and Android apps.
With the financial backing secured, we’ll be creating new jobs in the area, which is great for the local economy. When you consider the wealth of music talent in Portsmouth – hosting over 2,000 music events a year with Victorious, The Guildhall, Band Stand, Wedgewood Rooms, and all the Portsmouth Festivities and pubs – we’re alive to the opportunities of our local music culture, creativity and talent. But with live venues locked down for now, the online opportunity of Jeeni is greatly increased.
It’s so cool to think someone reading this might choose to invest in Jeeni now with just £10, and then use Jeeni to build their own fanbase for fame and success! We’re going to try hard to make sure that happens.”
JEENI is currently inviting investment on Crowdcube. To find out how to get involved please join our mailing list for updates or check out our fundraising pitch. If you want to see our pitch click HERE.
