Live Nation Labs To Fund Music Tech Startups
Live Nation has established the LN Labs Fund focusing on equity funding of early stage start-ups building consumer products that enhance the live music experience before, during and after the performance. Creation of The LN Labs Fund follows the acquisitions of data platform BigChampagne and live music community site Setlist.fm.
LN Labs Fund will be managed by Eric Garland, co-founder of Big Champagne and EVP and GM of Live Nation Labs; former WMG VP Ethan Kaplan, now LN Labs VP of Products; and Michael Abrams, President of Digital Ventures. Portfolio companies will be supported by the entire Live Nation Entertainment executive team.
"It's a renaissance for great product innovation," said Kaplan. "Good work is falling off the trees. The challenge for these upstarts is finding their market fit. We bring that to the table. We insist on a very clear product market fit for everything we do."
"We're interested in funding great new products that further engage fans and enrich the concert experience. There are a lot of little pieces on the board, and we're developing a structure for putting the best pieces together,” said Michael Rapino, CEO of Live Nation Entertainment. “In the era of the social conversation, we're a very focused platform. We're specialists."
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