The amount of the deal was not disclosed. The acquisition represented a change of plan having founder Sam Valenti IV announced in a previous note to conclude the platform on March 18.
Launched five years ago by Valenti and Miguel Senquiz, Drip allows independent labels to connect to fans to sustain their work. In exchange, fans get early access to new releases, tracks, experiences, visual art, video, writing, etc.
Labels on Drip include Domino Records, Fool’s Gold, Ghostly International, Stones Throw, and Sub Pop.
Senquiz will join the team at Kickstarter while the service, community, and creators of Drip will remain active.