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Sellaband.Com Bankruptcy
Sellaband.Com Bankruptcy
Dozens of NZ Independent recording artists are caught up in the bankruptcy of the international fan based fund raising platform www.sellaband.com
Nelson based recording artist Aly Cook joined Sellaband.com in August 2009 after seeing NZ Recording Artist Katie Thompson feature on TV1 on both Close Up and TVNZ Breakfast show. Katie had successfully raised US$50,000 from her fans toward a recording budget via sellaband.com
Aly Cook raised her total of US $20,000 from 224 individual investors (also called 'believers' by the web site) after being on the site for just 4 months and 6 days.
Aly who started recording her album last week with NZs most successful music producer, Alan Jansson known for his success as co-writer and record producer with Pauly Fuemana on NZs highest selling song of all time "How Bizarre" is now left in the studio unable to plug into her album funding.
There were dozens of NZ Artists seeking to raise album funding on Sellaband.com. Four other kiwi artists also recently attained their budget goals.
Although devastated by the news today, Aly is determined to complete the album, no matter the outcome. She hopes to find out if her recording funds are still in the Escrow account connected to sellaband.
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