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Neil Young

Neil Young ’s Startup Hits $5M Mark on Kickstarter

Neil Young’s startup PonoMusic is rocking out on Kickstarter, to the tune of $5 million and counting.This weekend, PonoMusic’s campaign surpassed $5 million in pledges on the crowdfunding platform. The startup, which launched March 11 at SXSW in Austin, Texas, aims to bring a high-resolution music player to music fans tired of low-quality mp3s.CEO John Hamm says Young has been working on bringing PonoMusic to life for the past three years.“His idea was to let music be heard the way the artists made it. They are creating great music in the studio, and half is getting dropped on the sidewalk,” says Hamm, who joined PonoMusic last year. Aside from the Kickstarter funding, PonoMusic has raised $2.5 million from individual investors, including John Tyson.Hamm says the outpouring of support on Kickstarter shows the PonoMusic team it has struck a chord.“I think we really hit a nerve of an unmet need. We’ve got people thanking us profusely on the site,” says Hamm. By Monday afternoon, PonoMusi...

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