Neil Young’s PonoMusic raised $6.23m on Kickstarter earlier this year, but its current, second crowdfunding campaign has already beaten that total. As we reported earlier this month, PonoMusic has turned to another crowdfunding website, Crowdfunder, offering small equity stakes in the company to backers who pay more than $5,000. Two weeks after launching the campaign, PonoMusic has raised $6.27m, doubling its overall crowdfunding backing. The new campaign doesn’t end until 1 September, so there’s a good chance PonoMusic could reach the $10m mark. Even this seems like a relatively small amount for a company building and marketing both a digital music device and a downloads store though: we think PonoMusic may yet turn to traditional VC investors for a bigger round in the future.
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