FOUND.EE HEADS DOWNTOWN

Downtown Music Holdings will acquire digital-marketing/ad-tech platform Found.ee. The platform, which provides artists, managers and label partners with a range of tools to target, optimize and build campaigns, will expand Downtown's promotional and marketing capabilities.

With this transaction, Downtown will acquire the intellectual property and technology underpinning Found.ee.

"The technology, tools and access Found.ee offers creators and their teams is yet another example of how the music industry continues to evolve," said Downtown CEO Justin Kalifowitz. "Our acquisition of Found.ee, its technology and its unique expertise in both the digital-advertising and music-industry ecosystems is an ideal complement to Downtown’s existing portfolio of artist and label services."

Used by more than 25k artists and labels worldwide, the Found.ee platform was developed specifically to provide powerful ad-tech tools that deliver more effective digital advertising campaigns across online, mobile, social and audio channels. Downtown subsidiary CD Baby, a minority investor in Found.ee, already uses the platform to power the promotional and marketing capabilities available to CD Baby artists.

Found.ee CEO Jason Hobbs will join Downtown following the closing of the transaction, which is expected to be completed by the end of 2021.