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Amie Street Receives Undisclosed Amount from Amazon for Social Music Site
August 6, 2007
Amie Street raised funding from Amazon, an undisclosed amount.
What does Amie Street do?
Amie Street is an online digital music store combined with social networking to create a unique pricing structure.
The site is driven by social networking, where members of the community drive the discovery, promotion and pricing of music.
AmieStreet is a digital music store with a demand-based pricing system. All songs on AmieStreet start at a price of zero cents. As more people download a song the price rises, capping at $0.98.
For recommending their favorite songs to your friends, you are rewarded by receiving credit for the purchase of additional music. The more popular a song becomes after a you have recommended it, the more credit you receive to spend on music.
The recommendation system combines the music discovery process and the dynamic of social networking. The discovery of members benefits the entire community.
Anyone can upload their music to AmieStreet.com, and all songs are downloadable in DRM-free mp3 format.
See the Amie Street website.
Elliott Breece – NA
Josh Boltuch – NA
Elias Roman – NA
Read more about Amazon here
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