Mark Cuban’s Fireside app attracts NFL stars and others as backers

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Mark Cuban’s Fireside, an audio platform helping creators share their stories with audiences through live, interactive and virtual shows, is in advanced stages to close a “Seed+” round, Two sources familiar with the matter told me.

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The funding round has already received commitments from investors such as The Chainsmokers, HBSE, Goodwater, Animal Capital and NFL stars Larry Fitzgerald, Calvin Beacham and Baron Davis, the sources said, requesting anonymity because the details are private. Another source familiar with the matter said the size of the round is around $10 million.

A source said the seed+ round is being raised at an uncapped valuation. Investing in an uncapped valuation round typically allows participating investors to buy equity in a startup in the next round at a discounted valuation. Usually, this is a 20% discount on the next round of evaluation.

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The deal is yet to be finalized, so the terms could change, the sources cautioned.

Those investing in the round include entrepreneur and investor Cuban, who also backed the startup’s seed round, Cuban confirmed in an emailed response to Nerdshala. “I love what I’m doing. So yes, I continue to invest. FSC [Fireside Chat] The first is Tactile Entertainment Platform and I think its upside is limitless. As his tagline says, ‘Feel the audience,’ he told Nerdshala, without commenting on who else is investing in Fireside.

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image credit: fire place

Others who have invested in the seed round are Precursor Ventures, Chris Voss and Sujay Jaswa, sources said. Details about the early backers have not been disclosed before.

fire place Andreessen is one of several startups including Horowitz-backed Clubhouse and David Sachs Colin, who are betting that the next wave of social networks will be built on top of audio.

Fireside has been able to attract many high-profile creators to its platform including Jay Leno and Michael Dell. The platform gives creators the ability to distribute their shows everywhere with the click of a button, and supplies them with “sophisticated analytics” to help them understand content that resonates well with audiences in real time. does.

The app – co-founded by Fallon Fatemi, who previously co-founded customer intelligence platform Node – allows creators to sell tickets and subscriptions and charges only a 3% commission. Sources said Fireside plans to explore use cases for NFTs and crypto, as well as merchandising to make the platform more attractive to creators.

“There is nothing like it for online content creators. And what we’ll be able to do for Metaverse-based locations is also changing the game,” Cuba told Nerdshala. “For the first time, whether it’s Web 2, Web 3 or VR, we have a tactile platform that delivers content. Allows producers to listen and see how their audience is reacting to live content. This is as close to being in real life as you can get. ,

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