Music and words have the power of healing our souls no matter what situation we are going through. Then what about a customized song created just for you? Sounds amazing right? Rather than receiving lots of gifts that aren’t interesting, it will be meaningful to receive a song made just for you. Then you should know about ‘Songlorious’.
Read what happened to Songlorious worth and net worth update in brief here.
What is Songlorious?
Songlorious is a custom song-creating company providing their customer’s personalized songs made according to their story. Songlorious emerge the customer’s mood and story in the song in a creative manner. Customers have options to choose the length, the genre, and the singing style of the song according to their idea on a low budget. The company is now nourished with a skillful team that had made them the ability to fulfilling the task in less than a week.
Apart from that, the company is providing customers with a place to explain their narrative and explain who the song is from and for. Not only that customers can specify their artists themselves but Songlorious is always there to select an artist according to customers’ desires. The price depended on the length of the song and length starting from 30 seconds.
Who is the founder of Songlorious?
Songlorious was co-founded by Ellen Hedges and Omayya Atout in the summer of 2020. While the whole world is struggling with the pandemic the couple also had to face different financial difficulties. They stayed at their apartment in Bushwick Brooklyn at the time. Both husband and wife had to resign from their jobs as civil engineers and baristas because of constant lockdowns.
Husband and wife both musicians got the inspiration after their song for one of the friends’ weddings get amazing feedback. The couple then decided to create personalized songs after they realized there are so many other peoples with ideas that want to convey in the form of songs.
What happened at the SHARK TANK?
The Songlorious took most people’s attention after the appearance on the SHARK TANK reality show. It was worth $700,000 at the time they appeared on the show and they earned around $1.1 million within a year after they appeared on the show.
They were on the show for money to buy a Special Marketing assistant and as the Guest Shark Peter Jones invested in a similar company in the UK he shows interest. But Mark Cuban who thought this is profitable offers $400,000 for 33% equity before Peter Jones.
Then the shark Daymond John offered his $400,000 for a 20% stake in the company and then Kevin O’Leary suggest a combined offer with Mark at $400,000 for 25% of the company, and the company could get the assistance of two investors. They said as they are engaged in the most relatable industries at the time it will be more profitable for the company.
After that Mark suggested that he would join them by raising the 33% of equity as Kevin is in the wedding business, Peter is in international marketing, and Mark can deal with the technical aspects of the industry. But
Daymond joined them by raising the equity to 40%. Not only that they increased the investment to $500,000.
Even though the company requested $800,000 the deal finally agreed to 40% equity giving each investor 10% of the company.
What happened to Songlorious After the Shark Tank?
The entrepreneur couple managing to attract our investor’s attention made public interest in Songlorious SHARK TANK UPDATE.
The company is still growing and targeted revenue up to $2.5 million last year. Now it adding more and more musicians and giving the customers opportunity to produce songs in different languages like Spanish and Arabic.
also read: Qpay The Highest Earning Business in Australian Shark Tank
Competitors of Songlorious?
Songfinch, Instasong, Songly, Mereedhun, Customserenade, and Romance-Outsourced are considered competitive businesses arising in the same field. Among them, Songfinch is said to be leading.
Mark Cuban, Daymond John, Kevin O’Leary, And Peter Jones invested in Songlorious.
Yes. according to official website updates the company is still in business with great improvement with more customers and artists. Recently the company has started creating songs in Spanish and Arabic and expects to create songs in different other languages.
You can choose price ranges from $45- $200+ budgets in Songlorious. But if the customer decided to select their artist they have to pay an extra $20 and if not Songlorious is helping them by choosing an artist according to their requirements
The answer is yes they did. They asked for $400,000 for 10% equity but finally, they agreed to $500,000 for 40% equity.
The company’s net worth is estimated at $1bilion today
Songlorious charges $199 a song. But this price does not include extra add-ons. According to the site’s statements, Songlorious is paying $100 for one deal of artist.
Customers can use the URL sent after they confirm the order to track the progress of the order and you can use the same URL to download the song. Also, your song will be always there in that particular link as it never expired. Except that the Songlorious provides other options to deliver songs like CDs, and photo slideshows and you can add your song to streaming services like Spotify & Apple Music.
Because the company is providing the customer with detailed information about the artists and giving the full right to the song for the artist their work the work done under Songlorious is legitimate.