Mindset, a platform for recording artists’ personal stories, announced today that it has raised ج 8.7 million in seed funds.
As co-founders of K-pop-focused podcast production company DIVE Studios, brothers Brian Nam, Eric Nam and Eddie Nam felt that the studio’s best performing material came from episodes of podcasts where the stars talked about How do they handle the struggle in their personal lives? So, Nam Bhai came up with the idea for Mindset with Idea Studio’s Off Shoot.
CEO Brian Nam said, “We found this to be a unique selling point that people really wanted more.” How do we provide more valuable content to General Z and the young millennial audience? We decided that there really wasn’t the right kind of platform to tell this kind of story, so we decided to develop our own mobile platform to share these stories in a unique audio format.
In its current format, Mindset includes four audio collections by Jay, Tablo, BM, and Mindset co-founder Eric, who is a self-pop star. Each collection has ten episodes ten to twenty minutes long – the introductory installment is free, but to access the rest of a single artist’s collection, users will have to pay 24.99. The app also has free boosters, which are quiet, five-minute clips of bedtime stories and stimulant spells.
Nam said, “So far, the main source of income, especially for musicians, has been tours, music series, and then maybe some endorsement deals, but we can open this fourth, which is your stories. Is monetizing. ” “The price is the same as how they can price the ticket, or how they will sell the goods.”
Mindset does not mean therapy app. “We are not licensed therapists, we do not try to do things our way,” Nam said. Rather, it’s a way for artists to share deeper experiences with their fans to show that they’re behind the music, they’re people too.
Mindset was launched in February in the MVP (least viable product) version. Nam declined to share active user or revenue numbers, but said the app received so much attention that by May, it had increased venture funding. The 8. 8.7 million round is led by Union Square Ventures, which includes strategic partners such as Record Executive Scooter Brown (TQ Ventures), who have recently made headlines over the Taylor Swift Masters controversy. Other supporters include Kevin Lin, co-founder of Twitch, Eric Wu, co-founder of Opendor, and more.
“Scooter Brown was a strategic investor,” Nam told TechCrunch.
Brown has also worked with artists such as Ariana Grande, Justin Bieber, and Demi Lovato.
“It has opened a lot of doors for us in Hollywood and Western space, where we traditionally come from the K-pop space,” Nam added.
Mindset is focusing its seed funding on content creation, recruitment and product development. The app is currently available on iOS and Android, but it will officially launch on September 14. The name declined to say who the artists would be.