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Pledge Music

PledgeMusic Says Its In Negotiations With Potential Buyer

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(Hypebot) It has been more than two months since PledgeMusic suspended all crowdfunding campaigns on the platform, leaving hundreds of artists unpaid. But a PledgeMusic staffer is now telling former clients that the company is in negotiations with a potential buyer.

In an email obtained by Hypebot and verified separately, this week a PledgeMusic staffer encouraged at least one artist still owed money to be patient as they wait for an update “on negotiations the board is having with a potential buyer.”

Hypebot has thus far been unable to confirm the accuracy of the staffer’s claim, but it is the first update of any sort that the company has shared in well over a month.

Various estimates put the monies owed by PledgeMusic at $1 – $2 million, with hundreds of thousands more owed to the founders of email-for-music platform Noisetrade, who sold their company to Pledge in 2016. Persistent rumors suggest that several buyers are considering an acquisition of Noistrade, which has been spared most of the fallout from the PledgeMusic collapse.

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