Sounday, 10X Turnover Growth YoY
Summary
Sounday, a venture-backed Italian digital music ecosystem startup, reached a consolidated turnover of €3m in 2013.The company also recorded a 50% growth in the number of subscribers on Sounday Music (from 20,000 a 30,000).Founded in 2009 by CEO Giuseppe Ravello, provides a Digital Music Ecosystem, a web and mobile platform for artists, professionals, record labels, fans and brands to develop networking activities, managing their career, buy and sell music services, create and share content.The company, which is based in Cagliari, Turin and Tokyo with a global team of 12 people, had received a €2m funding in 2012 (read here).The investment, made by venture capital firm Principia via Principia II, allowed the company to accelerate its growth and acquire Kiver Digital S.r.l., a supplier of digital content, in September 2013.