Boston’s Sonicbids to be acquired by Backstage
Sonicbids Inc., a Boston company that helps musicians find gigs, has been acquired by Backstage LLC, a New York based website and publication that connects actors with auditions.
Terms of the deal were not disclosed, but the New York Times reported the sale price to be around $15 million.
Sonicbids was founded in 2001 by Berklee College of Music graduate Panos Panay, who started the company so that emerging bands could use the Web to connect with music promoters. More recently, it has expanded to provide companies such as Anheuser-Busch Cos. Inc. access to its roster of musicians.
Today, its service is used by more than 400,000 bands and 30,000 music promoters. Sonicbids will remain in Boston and Panay will stay on as chief executive officer.Michael B. Farrell can be reached at email@example.com.