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Neil Young launches new Pono crowdfunding campaign

By | Published on Thursday 14 August 2014


Despite having raised $6.2 million on Kickstarter earlier this year, almost eight times the amount it was looking for, Neil Young’s PonoMusic is now seeking a further $2.5 million in a new crowdfunding campaign.

It was all a bit of fun, back when it was just Neil Young fans handing out a bit of cash in order to get off the ground a thing they could pretend sounded even slightly different to any other digital music player on the market. But with those emperor’s clothes well and truly torn off his back, Young is now offering actual equity in the company, via Crowdfunder.

And it’s working, too. Pono has already raised almost $1.5 million of its target, with the digital music company claiming a valuation of $50 million. Even though based on that original Kickstarter campaign, it only has a market of 18,220 customers.

The new fund-raising campaign ends on 1 Sep, with a minimum investment of $5000 per backer. So that’s $5000 you’ll probably never see again. At least if you put a few hundred dollars in with the Kickstarter campaign you’ll get in return a useless piece of plastic that you can throw at a car, or something.