Founded in 2013 by José María Ozamiz and Gonzalo García-Miñaur, Wegow is the first social live music marketplace where fans, artists, promoters and brands interact in a whole new way to get exposure to live music.
The platform serves as an on-the-go live music agenda, notifying fans when their favorite artists come to town, offering all the ticket options available for a gig or festival and creating a social platform where users can directly interact with each other before, during and after the event.
Wegow offers a scalable solution to build everlasting relationships between “fans, bands, and brands”. Having originally started out as a social network, the feature that sets this website apart is the social aspect.
The company is based in Bilbao and Madrid and has more than 2,500,000 monthly users all over the world. It started operating international in 2017 in Argentina, Australia, Austria, Belgium, Brazil, Chile, Colombia, France, Germany, Ireland, Italy, Mexico, Netherlands, Portugal, Spain, Sweden, Switzerland, United Kingdom and United States.
In 2017 Wegow received the award to the “Best Entrepreneurial Project of the Year” from the prestigious Spanish SME awards – Premios CEPYME 2017, and ‘Best Trajectory of a Startup’ in the ON Bizkaia Awards. In 2018 the company was named the “Best Spanish App for Entertainment and Events” in #TheAwards18.
The company’s business model is based on the ticket platform, ads, the WegowPro tool where bands, promoters, managers and venues can promote themselves and reach their target audience. And finally, WeManagement, the chance for artists and bands to be represented by Wegow’s management team.
The startup was launched with approximately €150,000 from the founders to create an MVP. A total of €2M more were raised in the following financing rounds, the main ones being of €700k in 2017 and €600k in 2018 from friends and family. The funds were mainly used to expand the marketing, technology and sales teams as well as for marketing and commercial activities to develop the brand and promote events.
Though the startup has mainly had founder and FFF investment, business angels have also put their trust in Wegow, including Guillermo Delclaux, ex-Fortress Investments, Blackstone and Goldman Sachs, and Alejandro Vázquez-Guillén, CEO APAC at Adglow, have participated along the way as business angels, supporting the founders in the management, development and expansion of the business. The investors that have backed the most recent round include Félix Ruiz, Zaryn Dentzel and Hugo Arévalo.
PLANS FOR THE FUTURE
The company aims to keep strengthening its position as the leading platform for live music enthusiasts in Spain by developing new functionalities for users, music promoters, managers and brands to offer the most complete experience around a music event and to differentiate the platform from its main competitors.
In addition to that, Wegow will continue its international expansion process in 2019 by establishing sales teams in the main European live music markets to scale the platform. The technology and corporate structures already existing in Spain will support the teams abroad making this internationalization process agile and cost effective.