Podcaster Blue Wire Launches Equity Crowdfunding Round
| RADIO ONLINE | Tuesday, August 22, 2023 | 12:45pm CT |
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 Blue Wire |
Blue Wire, an independent sports podcast company, launches a community fundraising round, in partnership with WeFunder, with the goal to raise $1 million at a $25 million valuation cap. The raise will allow investors -- fans, journalists, athletes and creators -- to join the company's ownership group and support Blue Wire's plans to scale operations, expand its portfolio of profitable content and develop proprietary software to further support its network of over 500 creators and 300 individual podcasts.
In addition to generating revenue for its network of independent shows, Blue Wire also collaborates with a range of strategic content partners including Wynn Resorts, Action Network, and Fubo Sports to produce and monetize content.
The new funding round comes at a time of growth for the sports podcast network, which boasts a U.S. audience of over 3 million unique monthly listeners and an annual download count of over 130 million. Blue Wire also works with more than 100 advertisers, connecting top brands from a wide array of categories to its full lineup of network partners, resulting in over $20 million in revenue generated since 2020.
"Blue Wire is offering individual investors the opportunity to join our movement. Independent podcasters are building thriving content businesses, and our infrastructure can support this explosive growth," said Blue Wire Founder & CEO Kevin Jones. "In a market dominated by major conglomerates and publishers, Blue Wire is building a different type of business. We believe in 'strength in numbers,' and this crowdfunding campaign further highlights this core value."
"I looked at Blue Wire and said this is a perfect opportunity to be in the podcast space," said two-time NBA All-Star and Blue Wire investor Baron Davis. "The company has great vision, great intuition, and they care about what they're building."
Since 2020, Blue Wire has secured $12 million in funding from various sources, including seed and Series A rounds led by Dot Capital, Wynn Resorts, former NBA superstar Baron Davis, and East Carolina University's Pirate Fund.
