Feed raises over 300% of their crowdfunding target bringing total pre-seed funding to over £350k.
“I’ve never seen such low costs per engagement and I basically don’t have to do anything–what’s not to like?!” – The Overland (Feed user)
Feed is a brand new platform that empowers musicians, creators and entrepreneurs to find the people who love what they do. It automates the whole process of advertising on Facebook and Instagram, making growing an audience on social and streaming platforms simple yet effective. Feed was originally designed for independent and emerging musicians. It takes minutes to get started, requires no marketing knowledge, and caters for any level of budget – charging a % of overall ad spend rather than a subscription fee.
Feed’s founders Nick and Josh both have history working in the music industry, and built the platform to enable creators to bridge the paid social value gap. The creator simply has to connect their social media accounts and set a budget. That’s all Feed needs to create ads that reach new people and convert engaged audiences into loyal fans over time
The beta platform is integrated with Facebook’s & Instagram’s ad network, and now has over 650 creators on board. Feed’s ads perform 450% better than average (on metrics like CPC).
In order to further strengthen Feed’s relationship with creators, a crowdfunding campaign was launched on crowdcube offering equity to those who invest. It exceeded all expectations and closed on 318% of the funding target, raising over £150k. This crowdfunding was the ‘second tranche’ of a pre-seed round, with the first tranche raised from 15 HNWIs and Angel investors, bringing total pre-seed funding to over £350k.
All funds raised will be spent on developing the product and launching the paid version of Feed in January 2021. Whilst it is early days for the platform, there is a clear path being forged – a tool built by creators, for creators that is now also crowdfunded by creators
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From the founders:
“Coming from a background working in record labels, I would see the vast amounts of time, cash and luck that are required to break an artist.
With so many people and companies involved the artist needs to become huge in order to justify the investment. With more and more music released, signing brand new artists becomes incredibly risky, and deals harder and harder to come by.
However, with billions of people online, there is room for the millions of artists out there to build careers around their music. With that potential audience out there, how can an artist reach them without the expertise the music industry traditionally provided?
That’s what we want to do with Feed… build the tools that give creators the marketing and financial resources they need. That means creators are the only ones who need to get paid and they’re the ones running their businesses.”
“I started out as a musician before moving into the economics and finance world and working as an investor.
I’ve known Joshua for years and was inspired by his vision of a more decentralised music industry where artists have the tools to build their own careers. I thought with the combination of Joshua’s music industry & digital marketing experience and my financial & investment experience, we could build a decent set of tools for creators.
We’re starting by addressing the marketing / audience building problem with Feed, but we have some ideas about how that might evolve into a funding solution too – addressing the two main issues faced by creators today.”