According to CEO, co-founder, and main shareholder of the startup Karen Chiftalaryan, they plan to spend the investments on promoting the service on the market and further develop the product. In particular, the application and launch of the metaverse for artists on the platform.
Karen Chiftalaryan launched "Show4me" together with others in 2015. According to Chiftalaryan, in total, with the investments of the founders, the startup has about $30 million in investments.
The main functionality of the startup
Show4me markets itself as a music social network for interaction between fans and musicians. Musicians own platform-based art clubs where they can manage online streams, sell tickets, distribute merchandise and, of course, publish exclusive content - tracks, albums and much more.
Show4me has a unique business model — any artist club subscription costs a flat $1 per year. The company owns 15% of it, and the artist gets the rest. Thus, musicians can monetize their fan base more effectively than Facebook, Instagram and other mobile networks.
Today, over 30 thousand artists are registered on the platform.
Can the app be downloaded in Ukraine?
The service is available in 198 countries, Ukraine is not yet on the list. Show4me will launch on the Ukrainian market in the first quarter of 2022. The main markets for startups are the USA (50% of business) and the EU (30%), the rest of the markets account for no more than 20%.
The startup is currently not profitable, but Chiftalaryan said it could achieve self-sufficiency by the end of 2022.
Show4me currently has over 70 employees. The offices are located in Berlin and London. Currently, there is no representative office in Ukraine.