London-based music streaming service, BlueJay Music, has completed its equity crowdfunding round on Invesdor with nearly £155,000 in funding. The platform launched the initiative in March, seeking £150,000. During the final week, the funding target was achieved.
The music platform claimed it adds a new dimension to online music by allowing users to live stream a playlist of their favorite songs from their mobile device to anyone in a real-time and interactive environment that includes group chat. BlueJay is licensed in the UK as a webcast service by the PRS and the PPL.
“In short, in the current online market there are no truly personalised music apps, there are very limited options for real-time social interaction over music online, and there is clearly a strong desire for both. BlueJay is a human curated music service that can scale to the individual listener, allows listeners to connect and interact socially over music through group instant messaging, and combines both in a smooth, enjoyable, real-time environment. This ability to run an internet radio station from your pocket is new and unique and we have a patent pending on our technology.”
Leonard Peter Shore and Samuel Jordan Shore, founders of the BlueJay Music portal noted:
“We were both in San Francisco working on a project with someone we’d known a long time when we became involved in a discussion about music and the lack of an ability to listen to music together, and to have some social engagement. At first that lead to ideas about crowd sourcing playlists for physical parties. But it soon morphed into an idea, if you like, of a global party where people could crowd source a playlist. The complexities of that and the challenge of licensing in a grey area led us eventually to design more of a radio type service – where you can set up, in principle, an unlimited number of personal radio stations with an unlimited number of listeners – and can listen together and engage socially with each other.”
In regards to why he decided to take on the startup, Samuel then added:
“Finance felt a little like being on the outer rim of where the real action was. I was always interested in the opportunity and challenge of running a smaller start-up business. I knew that it was really only a matter of time before I made a change.”
Funds from the initiative will be used to grow and expand the BlueJay platform.
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