Turntable.fm Picks Union Square as Investor Over Kleiner and Accel

Posted by jonbot on Tuesday August 02, 2011 @08:44AM
from the betabeat.com dept.

http://www.betabeat.com/2011/08/02/turntable-fm-chooses-union-square-ventures-over-kleiner-and-accel/

( 9 comments | 43 points | on HN )

Re:Turntable.fm Picks Union Square as Investor Over Kleiner ... by mashmac2 on Tuesday August 02, 2011 @10:37AM (#2837265)

Fred Wilson (from Union Square Ventures) has mentioned them twice in the past few months... I guess they've been talking.

http://www.avc.com/a_vc/2011/06/globalization-continued.html

http://www.avc.com/a_vc/2011/06/to-science-and-art.html

[ Parent | on HN ]

Re:Turntable.fm Picks Union Square as Investor Over Kleiner ... by nhangen on Tuesday August 02, 2011 @09:48AM (#2837082)

I like their style, and I would've made the same move. Though I'm speaking on the outside looking in, Union Square seems to be much more connected with the industry and their investments. I think they probably "get it" more than most. Props to Turntable.fm.

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Re:Turntable.fm Picks Union Square as Investor Over Kleiner ... by fredoliveira on Tuesday August 02, 2011 @01:03PM (#2837813)

I think this story goes to show how much the venture capital business has shifted in the last few years (it sure has changed a lot since I started really caring for it). I guess the best analogy I have to Union Square's ongoing success (and impressive portfolio) is how an indie band pulls a gigantic win and suddenly becomes a key player. These guys have, much due to Wilson's diligence and passion for disrupting ideas, become a force to be reckoned with.

Kudos to them.

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Re:Turntable.fm Picks Union Square as Investor Over Kleiner ... by cyanbane on Tuesday August 02, 2011 @12:06PM (#2837604)

Sounds like a perfect fit, I think Turntable and Fred Wilson are both on the same key about ways in which people share music.

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Re:Turntable.fm Picks Union Square as Investor Over Kleiner ... by rgarcia on Tuesday August 02, 2011 @12:39PM (#2837723)

But one major question remains. Will Turntable.fm be able to qualify as a non-interactive streaming radio service, afforded DMCA protection by the Copyright Act of 1998? If it does, then all it needs are these relatively inexpensive performance rights. If, on the other hand, Turntable.fm is labeled an interactive streaming service like Spotify, then it would need to go about securing the rights from all the record labels, a much more daunting and expensive task.

How the heck will turntable pull this off? IANAL but they are about as interactive as music services get.

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Re:Turntable.fm Picks Union Square as Investor Over Kleiner ... by bproper on Tuesday August 02, 2011 @01:58PM (#2838067)

It's a subtle challenge. The reason DJs cannot play music alone is that the audience has no choice of the song. So while DJs are clearly interacting/choosing songs, the majority of listeners are passive.

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Re:Turntable.fm Picks Union Square as Investor Over Kleiner ... by kapilkale on Tuesday August 02, 2011 @02:49PM (#2838269)

I'd love to see a post somewhere that explored some of this stuff, since I don't have a clear understanding of the arguments / precedents for both sides.

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Re:Turntable.fm Picks Union Square as Investor Over Kleiner ... by hullo on Tuesday August 02, 2011 @03:07PM (#2838317)

Terry Hart published a comprehensive exploration of those very issues yesterday, "Is Turntable.fm Legal?":

http://www.copyhype.com/?p=303

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Re:Turntable.fm Picks Union Square as Investor Over Kleiner ... by bproper on Tuesday August 02, 2011 @02:59PM (#2838295)

Apparently Lady Gaga and Kanye West are now reported to be investors in Turntable as well.

whoa

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