Press

September 29, 2009
simfy closes financing round with new strategic partner Music Networx

Online music portal simfy has secured further financing to secure execution of its growth strategy. Financing was provided by new strategic partner Music Networx, a full-scope service provider around and marketer of live music.

Berlin / Cologne, Germany, September 29, 2009 - As the leading German music application company simfy has been on a continuous growth path, welcoming on average over 3,000 new users each day. "We are delighted to have received financing shortly before our planned re-launch of simfy.de so that we can grow even quicker", said Christoph Lange, co-founder of simfy.

The re-launch will include a revamped platform and a flat-rate music streaming model, in addition to a mobile application. "simfy comes from simplify - we are creating the easiest way to enjoy music", mentioned Steffen Wicker, co-founder of simfy. "We are very pleased by the fact that we can continue to pursue this goal together with such a successful partner as Music Networx".

Music Networx is the market leader for live music production and distributes exclusive live recordings through its web platform Concert Online and by making USB-Sticks or CDs available to concert audiences directly after the concert has finished; a mobile download solution is currently being planned. Gerrit Schumann, CEO of Music Networx: "We were especially convinced by simfy's fantastic team. Further, Music Networx' live music know-how and portfolio of live recordings matches ideally with simfy's experience in music streaming and its portfolio of studio music. Together we can offer fans and artists significant added value."

The transaction was financed by Music Networx' existing shareholders, including DuMont Venture, Earlybird and Klaus Wecken.

About simfy.de

simfy currently serves more than 1.4 million music lovers and is the German market leader for music applications. What once started as a price comparison for music downloads - developed by the students Christoph Lange and Steffen Wicker in 2006 - is now an extensive online music portal. The new simfy portal is about to re-launch and will offer unlimited access to more than 1.5 million songs. Additionally users are able to create playlists and share them with friends. simfy licenses its music technology to a wide range of partners, including piczo.com or spickmich.de.

About Concert Online

Concert Online is the platform for live music on the Internet. Music lovers can visit concert-online.com to buy downloads of full-length concert films and audio recordings. The Concert Store program enables artists and licensors to increase their live recording revenue with digital sales to their target audience. Concert Online offers seamless service from planning and recording up to sales and promotion on-site and afterwards online. The Concert Stick allows fans to take their live experience home with them immediately after the show - as a perfect audio souvenir in MP3 format.

Music Networx, the company behind Concert Online, has developed and implemented innovative approaches to producing, showcasing and marketing live music since 2006, providing artists, labels and rights holders with new sales channels and markets.

Contacts:
Gerrit Schumann
CEO, Music Networx AG
Phone: +49 221 788787-0
E-mail: gerrit.schumann@musicnetworx.net