NEW YORK (CelebrityAccess) — Downtown Music Holdings has agreed to acquire Found.ee, a digital marketing platform aimed at artists, managers and record labels.
Found.ee, which is currently used by more than 25,000 artists and labels, was developed to deliver advertising campaigns across a variety of content channels, including mobile and audio channels.
As part of the deal, Found.ee CEO Jason Hobbs will join Downtown with the acquisition expected to close by the end of the first quarter of 2021.
Through the acquisition, Downtown will acquire the intellectual property and technology that serves as a basis for Found.ee’s current platform. Downtown subsidiary CD Baby, which already owns a minority stake in Found.ee, uses the platform to provide its existing promotional and marketing capabilities to its clients.
“Artists across the spectrum are increasingly opting for independence and taking a more active role in all aspects of their careers, especially when it comes to marketing and promotion. The technology, tools, and access Found.ee offers creators and their teams is yet another example of how the music industry continues to evolve. Our acquisition of Found.ee, its technology, and unique expertise in both the digital advertising and music industry ecosystems, is an ideal complement to Downtown’s existing portfolio of artist and label services,” said Downtown CEO Justin Kalifowitz.
“We’re so excited to join Downtown. Since day one, Found.ee has helped musicians leverage data, insights and advanced marketing tools to shape their own destiny. I truly can’t imagine a better home for Found.ee, and I’m excited to continue delivering more tools that help creators of all kinds chart their own path,” added Jason Hobbs, CEO of Found.ee.