The amount of the transaction was not disclosed.
Founded in 2010 by Alessandro Ravanetti, WeLoveYourSongs has built an online community centered around unsigned musicians and fans of underground music. The site also hosts contests in which musicians upload their original songs and users vote for their favorites.
Following the deal, WeLoveYourSongs will continue its existing operations with a roadmap in place first to bring more crowdfunding support to artists and to integrate Kapipal’s crowdfunding platform in the future.
Founded in 2009 and led by Elizabeth Holoubek, Chief Operating Officer, Kapipal is an international crowdfunding platform that allows people to collect money for personal projects, charities, and causes. It was acquired by Grow VC Group in 2013 (read here).