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How Neil Young’s Pono Music Raised $2 Million in Two Days

 

First published on www.forbes.com

 

On a breezy weekday morning in the hills just outside Austin, Texas, Neil Young slides onto a couch and smiles.

His relaxed countenance belies the fact that, at this very moment, he’s raising money for Pono–his long-awaited music player and service for high-quality audio files–at a rate of about $700 per minute via Kickstarter. Along with previous support from some outside investors, that will be more than enough to bring Pono to market this fall.

“Thank goodness that we have the investors that we have, because we were able to get as far as we could” before launching the Kickstarter campaign, says Young. “Far enough to be able to show the product. … But we couldn’t get [corporate] investors to get interested in saving an art form.”

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