8th April 2008
Premium domain name's $5m boost
Domain name news brought to you by DescriptiveDomainNames.com
A generic domain name offering a service that allows musicians and bands to promote themselves online has announced it is expecting significant growth.
It has emerged that SellABand.com has been given an investment boost of $5 million dollars which it hoped will allow it to continue to push the talents of its range of unsigned bands over the web.
The site encourages users to invest in such groups by buying shares in them and this money is then used for recording and developing the band.
Commenting on the $5 million investment, co-founder and chief executive of the site Johan Vosmeijer said that the money would be useful in expanding SellABand.com into the US market.
"America is the biggest market for us potentially. This new capital will enable us to make the necessary investments and expand in America," he said.
It is reported that the investor is Prime Technology Ventures, which is based in Amsterdam and Cambridge.
Earlier this year the site announced that it had agreed a retailing deal with Amazon.com and had signed Heineken as a sponsor for live music events.
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