BandLab Technologies, the Singapore-based parent company of the music creation platform BandLab, has acquired Airbit, a beat marketplace. With 60 million registered creators on its platform, BandLab is seeking to expand its offerings and support its artists in their creative process. Airbit offers a catalog of over a million beats from producers and beatmakers worldwide and has sold over 2 million beats to date, earning its producers over $50 million. The acquisition will bring Airbit’s community to BandLab and provide artists with access to all major elements of music creation, promotion, and distribution, in addition to its free DAW and AI musical idea generator SongStarter. Airbit users will also be able to integrate Airbit’s features into BandLab’s creator platform.
Airbit CEO Wasim Khamlichi will step down after a transition period, while all staff will be retained by BandLab. The acquisition follows the launch of BandLab’s premium profile-boosting tool, “Boost,” in September 2022, which gives creators access to BandLab Opportunities via ReverbNation and the ability to send their music directly to key industry heavyweights.
BandLab is a cloud platform that offers a range of music creation tools for musicians and fans globally and is backed by Prosus Ventures, the venture-investing arm of Netherlands-listed Prosus, majority-owned by Tencent’s largest shareholder, Naspers. The company’s brands include BandLab, a social music creation platform; Cakewalk, a digital audio workstation; and ReverbNation, an artist services platform. BandLab raised $65 million in its series B funding round in April 2022, reaching a post-money valuation of $315 million.
In a statement, BandLab CEO and Founder Meng Ru Kuok said, “Thanks to companies like Airbit, self-serve beat marketplaces have become an exciting route for creators to find and purchase high-quality beats to kickstart their creative process. We’re excited to improve the user experience for our creators and introduce new ways for them to earn a living.”
Khamlichi added, “Since Airbit was founded in 2009, it has grown to become a powerful platform for hundreds and thousands of creators. BandLab is best positioned to take it to the next level.”
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