A notable producer of sports podcasts has added some new investors to its team. Blue Wire, which has worked with TikTok stars to increase its audience and revenue, has raised a 2.5 million injection of funding, according to Forbes.
The funding round is a convertible note, which means it's a short-term loan that will eventually convert to equity. Participants include Dot Capital, which has invested about 5 million of the 11.4 million Blue Wire has raised thus far, and a pair of firms affiliated with East Carolina University. Kevin Jones, Blue Wire's 33-year-old founder, is an Ecu alum.
Jones selected this form of funding in response to current trends in the funding world. "A lot of VCs are pulling back," he told Forbes. "They’re just like, ‘It’s too risky now.’ People are having to find different ways to raise money. I’m proud to be getting linked up with my alma mater,...
The funding round is a convertible note, which means it's a short-term loan that will eventually convert to equity. Participants include Dot Capital, which has invested about 5 million of the 11.4 million Blue Wire has raised thus far, and a pair of firms affiliated with East Carolina University. Kevin Jones, Blue Wire's 33-year-old founder, is an Ecu alum.
Jones selected this form of funding in response to current trends in the funding world. "A lot of VCs are pulling back," he told Forbes. "They’re just like, ‘It’s too risky now.’ People are having to find different ways to raise money. I’m proud to be getting linked up with my alma mater,...
- 7/8/2022
- by Sam Gutelle
- Tubefilter.com
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