The Echo Nest Music intelligence platform

Anonymous
timer Asked: Feb 3rd, 2019
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Question Description

The Echo Nest, a music intelligence platform in Massachusetts, closed a big financing round on July 2012. Please read the article below and answer the questions that follow.

The Echo Nest raises $17 million

By D.C. Denison

The Boston Globe

July 12, 2012.

"The Echo Nest, a music intelligence platform, has closed a $17.3 million financing round led by Norwest Venture Partners. Prior investors Matrix Partners, Commonwealth Capital Ventures, Fringe Partners, Jim Pallotta and board member Michael Brown also participated in this round.

The Echo Nest, based in Somerville, plans to use the funds to support continued sales growth, international expansion, and new product development. The company also announced major additions to its Fanalytics listener data platform.

The Echo Nest's tools enable media companies and independent developers to build intelligence about music content and music fans into applications to make them more engaging. In addition to a growing community of more than 15,000 application developers, The Echo Nest has established a customer list that includes Clear Channel's iHeartRadio, eMusic, MOG, Spotify, Nokia, the BBC, and VEVO.

This latest round of funding will help The Echo Nest focus on international sales and marketing, the company said. The financing will also support continued development of Fanalytics, which the company describes as "data-driven solutions to help leading media companies better understand music fans."

Discuss:

  1. What does The Echo Nest do exactly?
  2. What round of financing is the Globe reporting on?Go to CrunchBase to find the answer.
  1. How does The Echo Nest intend to use the funds?
  2. Devise a four- or five-stage financing plan for the company. Consider its list of clients and its outreach to application developers.

Tutor Answer

benwamonicah
School: Purdue University

Attached.

THE ECHO NEST
I. Introduction
The Echo Nest is a music intelligence company that helps music fans interact better with
music on different digital music streaming sites and applications by using algorithms to
establish each subscriber’s playing patterns.

Thesis Statement
The company has undergone different financing stages that has helped it launch and
expand during the years.

II. Body
I.

Brief history of Echo Nest and the functions of the company.

II.

Series D financing round.

III.

Plans for the use of Series D funds.

IV.

Financing stages of The Echo Nest

V.

Future plans and financing.

III. Conclusion

IV. References.


Running head: THE ECHO NEST

1

The Echo Nest
Student’s Name
Institution Affiliation

THE ECHO NEST

2

The Echo Nest is a music intelligence company that was founded in June 2005 by
Tristan Jehan and Brian Whitman. It has its headquarters in Somerville, Massachusetts (The
Echo Nest, 2019). It offers its services to music developers and media houses. The main services
they offer are: music identification and recommendation, creating playlists and audio
fingerprinting. They work for over 400 music sites and applications, helping the consumers
interact with music better in their sites and appl...

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Review

Anonymous
Excellent job

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