mayk.it, a social music app, launches with a $4M seed round –

▤ Summary

Today, the social music app launches on iOS and announces its $4 million seed round from investors including Greycroft, Chicago Ventures, Slow Ventures, firstminute, Steven Galanis, Randi Zuckerberg, YouTuber Mr. Beasts’ Night media, Spotify’s first CMO Sophia Bendz, Cyan Banister, artist T-Pain and music industry veteran Zach Katz, among others. Once you make (or, “mayk”) something, you can post it on the app, where other users can see it via a discovery page, which categorizes music by feeling or theme, rather than genre. Of course, for creators who might want to get a bit more serious about their creations, remixing and collaborating poses a question of ownership — if someone writes a beat and another user sings over it, who owns it? Henriquez said that anyone involved in the creation of an audio clip or song on the app gets an equal cut, so the beat-maker would get 50% of any profit, and the singer would get 50%. Though mayk.it is now in the App Store, there’s a waitlist to gain access — but you can also test your skills with a “vibe check,” which invites you to make a song and see if existing users will right-swipe you in.

$ Funding

▦ Linked Companies

Apple Inc.

$1B+