Timbaland Adds Open Labs To His List Of Music Tech Investments For 2013
Timbaland continues his 2013 series of investments with a major stake in music equipment and software maker Open Labs. Known for their expensive music equipment, Open Labs is currently focused on promoting a low-cost music making app called StageLight. This year Timbaland also invested in 50 Cent's SMS Audio, a headphones and accessories brand, and in Hang W/, a mobile social video network.
Timbaland was recently announced as the lead investor in a $500,000 round for Open Labs.
Intro to Open Labs StageLight
StageLight is a desktop app for Windows and retails for $9.99. It appears to be a shift in emphasis for Open Labs which went bankrupt in 2010 after building a reputation for high-end electronic instruments such as the Miko LXD.
Open Labs assets were purchased by board member Cliff Mountain which he then self-funded until this investment. Mountain sees StageLight as a Windows competitor to Apple's GarageBand. In addition:
"Three major PC makers, whose names Open Labs hasn’t disclosed, bundle or preload StageLight with their systems, and the company has gotten interest from mobile phone makers about expanding into mobile and onto the Android platform, Mountain said."
Previous Timbaland Tech Investments for 2013
Earlier this year Timbaland invested in SMS Audio, a headphones and accessories brand started by 50 Cent. He also joined the board of directors and is stated to have "substantial involvement in the design and audio engineering process for new SMS Audio products."
In early May it was announced that Timbaland made an investment in HangWith, Inc.
Hang w/ is their new app-powered social video network and Timbaland periodically livecasts there as well.
Hypebot Senior Contributor Clyde Smith (@fluxresearch/@crowdfundingm) also blogs at Flux Research and Crowdfunding For Musicians. To suggest topics for Hypebot, contact: clyde(at)fluxresearch(dot)com.
