Jamplify, the music social marketing venture launched last summer out of JumpStart Foundry, recently raised $600,000 in equity — and plans to keep going to $1 million. Among the investors are notable local names Joe Maxwell and Dave Kloeppel. Maxwell ran and sold Investment Scorecard and now is CEO of Shareholder InSite, and Kloeppel was president of Gaylord Entertainment until last fall. Jamplify made a good impression at JumpStart's investor day last August but is now officially headquartered in New York.
There are a lot of startups trying to reward fans for their word of mouth (and typing) efforts, such as CrowdTwist and Plyfe. Pickens says Jamplify is different because it isn't costly for a brand to run a campaign; they are a Saas solution. And a Jampaign can be turned around quickly. If a label only has two days to promote a new music video, for example, Jamplify can work in that time frame.
HT: Southern Alpha