Sellaband Bankrupt But Bailed Out

sellabandIn a flurry of activity over the week, Sellaband was attacked by pundits for failing to help Public Enemy fund a new album, put its site offline for ‘maintenance’, declared bankruptcy, was bought out, bailed out and replaced its CEO with the German entrepreneur heading up the purchase of the business.

sellaband johanJohan Vosmeijer (left) stepped down as Chief Exec yesterday, ceding the big chair to Michael Bogatzi (right), with a post on their blog saying that he’d been right all along, despite the difficulties his site has had:

There is no doubt in my mind that ‘crowdfunding’, as they call it, is a blessing for artists in the 21st century and that this concept has the potential to cure what’s been ailing the traditional music industry for so long. SellaBand is and will always be the first of its kind. I am proud to have been part of this very exciting journey from day one and because SellaBand will always be dear to me, I will stay active as a ‘Believer’ on the website and have offered to be on stand-by in case my assistance is needed. I am also very excited to announce that the man who has been standing side by side with me in those past 4 years, Dagmar Heijmans, will continue to be part of the new team and will work closely together with Michael Bogatzki, the new CEO of SellaBand GmbH.

All in all, today is a day of joy. Some other time perhaps, I will take a moment to look back and share my story with the outside world. Right now I only want to look ahead and hope you will all join me in giving the new team a warm welcome and find out what bright future still lies ahead for SellaBand.

Avoiding bankruptcy must be a pretty big relief… Bogatzki was similarly positive but more terse.

sellaband michael bogatzkiDear Artists and Believers

We will continue to advance this fantastic platform while acting in the spirit of the SellaBand community and its founders. We are thankful for the exceptional work of Johan Vosmeijer and his team.

Starting from today we proceed with this unique concept and maximize the potential of SellaBand with the trust and faith of all Artists and Believers. In personal I am proud to be part of this idea and I am aware of my responsibility for done work and successes. I will take care about the community and spirit of sellaband.com with your help and confidence.

Best regards,

Michael Bogatzki

Im your friendly RouteBot. Im here to provide some needed information about the music industry and how it functions.

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