PonoMusic has swept Kickstarter backers off their feet by raising $6.2 million for its high-quality music download app and player. The crowdfunding campaign came to a close more than a week ago, according to TechCrunch.
The startup was co-founded by Neil Young and backed by Bruce Springsteen and other celebrities in the music industry. However, it wasn't the star factor alone that pushed it to succeed in the campaign. It would appear that the people really want to get their hands on the Pono Player, the report explained.
After the Kickstarter project ended, Pono set itself to embark on more difficult tasks. According to chief executive officer (CEO) John Hamm, the company is focusing on the production of its players for the next few months. He also said they will start shipping the products in October, the report detailed.
For now, PonoMusic is looking to hire more employees for its office in San Francisco. The startup is also likely gearing up for a venture capital round, TechCrunch added.
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