Coda Music

Coda Music

The world's first crowdsourced streaming music service!

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Security Type
SAFE
Categories
Entertainment
Min Investment
$100
Location
Lake Worth Beach, FL
Offering Date
September 15, 2020
Expected Close Date
January 13, 2021
Target Raise
$100.00K
Deal Notes

Discount: 25%

Valuation
$8,000,000

Company Description

Coda Music is the world's first crowdsourced streaming music service. We play great, fresh music for our listeners and help them discover new music by connecting them with other music fans with similar taste as their own. Our next phase will introduce another brand new concept to the 8 billion dollar streaming music industry: prepaid listening plans! While Spotify and Apple Music charge $10/mo for unlimited service, Coda will introduce $3/mo prepaid plans that will disrupt the status quo.

In five months, we hope (but not guarantee) to have 10M paid subscribers on either the Ad Free listening service or the prepaid listening service. This number represents 1/6 of the current subscribers between Spotify and Apple in the USA today. Following the path of the cellular industry where 30% of all subscribers choose prepaid mobile plans, we intend to be the first, and premier prepaid streaming music service in the world.Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.

Use of Proceeds

$100,000

  • 60% towards customer acquisition
  • 20% towards ongoing operations
  • 12.5% towards new development
  • 7.5% towards Wefunder intermediary fee

$245,000

  • 60% towards customer acquisition
  • 20% towards ongoing operations
  • 12.5% towards new development
  • 7.5% towards Wefunder intermediary fee

Perks

Invest $250+ for Free Coda Premium account
Invest $250+ for Free Coda Premium account

Key Deal Facts

Streaming music is an 8 billion dollar market and the payout potential with Coda Music is massive
We have already launched Coda Music and have seen over 100K listeners in the first 3 months
This is not our first startup, both founders last venture had a successful exit for investors
We have multiple industry insiders on our cap table

Use of Proceeds

$100,000

  • 60% towards customer acquisition
  • 20% towards ongoing operations
  • 12.5% towards new development
  • 7.5% towards Wefunder intermediary fee

$245,000

  • 60% towards customer acquisition
  • 20% towards ongoing operations
  • 12.5% towards new development
  • 7.5% towards Wefunder intermediary fee

Perks

Invest $250+ for Free Coda Premium account
Invest $250+ for Free Coda Premium account

Management Team / Advisory Board Bios

Randy Fusee
CEO
Previously founded, bootstrapped, and exited Global Apptitude: A sports software company that invented the tablet technology used in the NFL, MLB, NHL, and NBA today.

Jeffrey Teles
CTO
Co-founded Global Apptitude with Randy and was responsible for all aspects of technology build that transformed the way professional athletes mentally prepared for games.
Amount Raised : $11,600
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Security Description

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