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Allowing music fans to crowdsource concerts, the South Korean company aims to expand within Asia

South Korean crowdsourcing platform for concerts, MyMusicTaste, has closed a US$10 million Series A round of investment, according to TechCrunch.

Led by Softbank Ventures, other participants in the round include Samsung Ventures Investment, Formation Group, Golden Gate Ventures, Timewise Investment, Partners Investment, Bokwang Ventures Investment, and DT Capital.

With the latest round of funding, TechCrunch reports that MyMusicTaste is targeting expansion in Asia.

MyMusicTaste gives music fans a chance to initiate concerts with their favourite artists where they want. These music fans, called “TasteMakers”, select a city and country where they want to see their favourite artist perform.

When there is sufficient demand, the logic is that the artists and concert promoters will be drawn to holding a concert in a particular location.

MyMusicTaste CEO Ethan Jaeseok Lee, who professes to being a big fan of British rock band Coldplay, started MyMusicTaste in the hopes of one day getting them to perform in Seoul.

According to the report, MyMusicTaste works directly with event planners and artists, and has organised 80 concerts in 32 cities since it launched in 2013. It claims 500,000 users, with 90 per cent based outside Korea.

Also Read: Startup in Spotlight: MyMusicTaste is about ‘No concert left behind’

Image credit: Goran Djukanovic/Shutterstock

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