In the course of the pandemic, it was billed as one of many main platforms within the music livestreaming house. Final yr, it was named the most modern music firm on the earth by Quick Firm.

However now Mandolin has introduced it’s shutting down its platform.

Mandolin was co-founded in June 2020 by former Salesforce EVP and COO Mary Kay Huse, who grew to become its CEO.

In June 2021, the agency introduced that it had closed a USD $12 million Collection A funding spherical, co-led by 645 Ventures and Foundry Group, with returning investments from Excessive Alpha and Marc Benioff’s TIME Ventures.

That funding got here eight months after Mandolin secured a separate $5 million seed funding, with participation from Excessive Alpha Capital, and Salesforce CEO Marc Benioff.

In a assertion on Instagram yesterday (April 19), Mandolin confirmed: “After 3 unbelievable years, we’re unhappy to announce that Mandolin will now not offer the digital fan experiences you’ve come to like. We’d prefer to sincerely thank each fan that supported their favourite artist’s livestream, digital meet & greet and fan web page on our platform; doing so helped create a extra genuine ecosystem for followers and artists alike.

“We sincerely imagine within the energy of followers to uplift all the music neighborhood for the higher, so please think about redirecting the cash and a focus you’ll have paid to see a stream with us to purchasing your favourite artist’s newest vinyl, merch or tour ticket on their channels of alternative!”

In June final yr, Indianapolis-headquartered Mandolin introduced through a press launch that it was launching the “music trade’s first all-in-one information unification and advice platform”.

That launch concerned the introduction of ‘Fan Navigator’ – which Mandolin known as “essentially the most highly effective information dashboard obtainable within the Business” – plus ‘Fan Pages’.

The media launch acknowledged: “Trusted by over 1,000 artists so far, Mandolin Fan Experiences is the trade’s most complete set of fan connection instruments, spanning from livestreams and digital meet & greets to NFTs. And now, with the assistance of Mandolin Fan Web page, a free feature-rich link-in-bio answer, artists can create a hyper-engaged neighborhood in only a few clicks, rewarding superfans whereas deanonymizing passive followers.”

Mandolin isn’t the primary music livestreaming platform to hit the skids within the post-pandemic period.

Classes, which was based by ex-Pandora boss Tim Westergren in 2020, quietly shut down in Q1 this yr.

“Let’s face it, digital music has failed the working musician,” stated Westergren on the time of Classes’ launch.

“Recorded music has been devalued, and digital retail is driving artists farther from their viewers. They want another. Classes places management again within the palms of the artist. We generate the viewers and allow artists to show that fan base right into a reliable basis of assist and direct patronage. A monetary reward system pushed by fandom.”

Elsewhere within the tech x music sphere, we realized this month that Gimme Radio is to close down on April 29.

The platform will shutter little over a yr after elevating a seven-figure funding from backers together with The Orchard, iHeartMedia, and Harmony.

Gimme Radio ran two providers – Gimme Steel for heavy metallic followers and Gimme Nation for nation/Americana followers.Music Enterprise Worldwide