A British audio startup seeks funds after splitting with Kanye West. The company that began its business targeting parents and children as an audience evolved into entering the music industry. But with the split and plans for an expansion, the company is looking for a pool of investors to shape itself further.
The startup made an interesting range of products, with one even made out of collaboration with Ye. In fact, there were plans for Ye to take over the company as well. But like many of his recent deals, this one also collapsed. With some already existing strong backing, the company looks forward to more.
What happened between Kanye West and the audio startup?
Kanye West is known for collaborating with different companies and artists regularly. Even his deal with Kano, the British audio startup, proved fruitful initially, with them creating the STEM player. As per CNBC, the STEM player could split the music, through which you could hear every instrument and tone separately. Ye even wanted to name it after his ‘Donda’ album, which is his mother’s name and dropped the albums exclusively on the device. There were discussions of him wanting to purchase it for $80 million. But things began falling apart quickly.
Company’s CEO Alex Klein said, “He was doing stuff that was just disgusting”. Ye’s remarks on the Jewish community began spreading everywhere. Not only is Klein’s father Jewish, but so was one of the other investors. This added to disagreement over the takeover, which led to the end of their deal.
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Leaving that in the past, the company has both a plan and an amount in mind to execute it.
A look into Kano’s products and plans so far
Kano initially made tech products like coding kits, with Frozen and Harry Potter. But the production for the same has stopped now. After crowdfunding, it plans to launch new white STEM headphones by 2023-2024.
As for investments, they already have strong backing from Microsoft and billionaire company Breyer Capital. Through the company launch on Crowdcube, it looks for $900,000 in investment for its plans, with Europe and the UK as the major target. It will be seen if the company succeeds. As for their deal with Ye, his representatives refused to comment on the split.
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Do you think Kano will succeed with investors after moving on from Kanye West? Comment your thoughts.