Turntable.fm Creators to Launch Social Listening Platform, Hangout, Following $8.2M Funding Round
What was once a raging inferno of music tech that flickered out too soon is being rekindled with a spark of innovation and a hefty dose of capital.
Turntable Labs, the brainchild of the original Turntable.fm creators, is back with a new social music app called Hangout. With $8.2 million in fresh funding and lessons learned from their initial venture, they're ready to make a mark on music tech once more.
In the early 2010s, Turntable.fm emerged as a breakout platform that promised to change the way we listen to music online. The product allowed users to DJ in virtual rooms, share tracks and engage in social interactions, creating a real-time interactive space for music lovers.
However, the original Turntable.fm met an unfortunate end when the complexities of music licensing began to consume company resources and stall crucial product developments. Combined with a lack of sustainable revenue, the brand's operating woes made it difficult to attract further investment.
Fast-forward to today, when the company, led by Joseph Perla, is ready to give it another go with Hangout, an app designed to bring back the best elements of Turntable.fm while addressing its past. Unlike its predecessor, Hangout's founders believe it has a clearer strategy for growth and sustainability, and the app's development has been backed by a recent $8.2 million seed round led by Founders Fund, Elizabeth Street Ventures, 468 Capital and f7 Ventures along with angel investor Michael Guimarin, the CEO of WordOut.
One of the main differences between Turntable.fm and Hangout is a refined focus on community and gamification. Hangout aims to deliver an engaging social listening experience complete with custom avatars, upvoting systems and real-time interactions. As the app gears up for its full launch in 2024, its founders are in active talks with music rightsholders to ensure all legal bases are covered—a lesson learned the hard way in their previous venture.
The waitlist for the forthcoming launch of Hangout can be found here. Check out a walkthrough of the platform below.
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