Smart-links have become a key part of most music marketing campaigns in recent years, but now the sector is heating up for investor interest too.
Yesterday one of its biggest players, Linktree, announced a $110m funding round valuing the company at $1.3bn. The round was led by VC firms Index Ventures and Coatue Management, and will be used to expand globally and continue growing beyond its current 24 million user-base.
Linktree is an all-purpose platform, but it’s been putting plenty of focus on music in the last year, buying music-links company Songlink/Odesli in August 2021, then striking deals with Bandsintown, Audiomack and SoundCloud in February 2022. The company has also just hired a new president, Mike Olson, formerly of Twitch and Pandora.
This isn’t the only smart-links news this week however: in the UK smart-links startup Amplify has been acquired by Chapel, the web3-focused firm co-founded by Ian Matthews, the drummer from British band Kasabian.
The company says it has more than 86,000 artists and creators using its service. What with these stories plus Linkfire going public and buying rival SmartURL, it adds up to intensifying competition in the smart-links world, which should be good news for the music clients of these services.