Kickstarter Buys Music Community Service Drip

After years of providing a platform for people to help fund everything from homemade hot sauces to feature films, Kickstarter itself has made its first big investment, acquiring streaming service Drip.

Kickstarter announced today that it swooped in to purchase Drip, which also serves as a community for independent labels, just a day before the streaming service was set to shut down.

The deal, for which financial details were unavailable, marks Kickstarter’s first acquisition ever, The Verge notes.

“Like Kickstarter, artists on Drip enjoy closer connections to the fans who help sustain their work. And fans enjoy early access to new releases, rare tracks, unique experiences, visual art, exclusive video, writing, and beyond,” the crowdfunding site said in a statement. “At heart, we’ve been on similar paths.”

Now that the paths of the two companies have become one, Kickstarter says few things will change about the service, at least for now.

Miguel Senquiz, a co-founder of the company, which launched in 2011, will join Kickstarter.

[via The Verge]

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