In an unusual turn, I’m not writing today to suggest playlists we’ve hand-picked for you (though I've slipped in a few that our community love at the end of this email). Instead, I’m writing about potentially investing in 8tracks.
Under US law, only wealthy individuals and venture capitalists have historically had the ability to invest in startups. This changed last summer: the JOBS Act now allows anyone to invest in private companies. Unlike typical crowdfunding platforms (like Kickstarter), this new process would allow you to actually own stock in 8tracks.
8tracks was founded to showcase the passion and talent of people who care about great music and wish to share it, delivering the perfect playlist for a listener’s taste, time and place. As our DJs and listeners have both created and promoted this infinite soundtrack, so too should they have the opportunity to finance it by taking a stake in the company while we’re still relatively small.
New funding would allow us to build out a full music library for DJs, make it easier for listeners to find playlists they like, integrate 8tracks on new platforms, and refine our business model to continue to grow 8tracks for years to come.
This isn’t an offer to invest, and as of now you still can’t buy shares. I’d simply like to understand if you would be interested in participating. If there’s broad interest, we may file official paperwork with the Securities and Exchange Commission (SEC) to pursue this new crowdfunding option.