Jaxsta to Acquire Vampr
Acquisition provides an accelerated implementation of Jaxsta’s growth strategy.
Jaxsta , the world’s largest dedicated database of official music credits, has executed a Heads of Agreement to acquire Vampr, the world’s leading music industry social network connecting musicians and artists so they can collaborate, create new music and monetize their work.
This acquisition provides an accelerated implementation of Jaxsta’s growth strategy, immediately increasing Jaxsta’s footprint in the creator community by 1.3M creators, significantly expanding the potential user base.
The award winning Vampr app and users represent a growing portion of the independent music community. Vampr’s freemium business model already converts 4% of weekly active users into paying subscribers and is expected to accelerate when Vampr Pro is bundled with the Jaxsta Creator subscription.
Combining these products creates a much more compelling product for the independent artist and musician.
Josh Simons, Founder and CEO of Vampr, will join the Jaxsta C-Suite as Chief Strategy Officer to oversee the merge of Jaxsta’s product portfolio.
Beth Appleton, Jaxsta’s CEO stated “The acquisition of Vampr represents a rare opportunity to accelerate the expansion of our business. We continue to focus on driving revenue growth and profitability capitalizing on the bedrock of the Jaxsta platform and the moat we have built through our industry leading music data solution. Together, I believe we are going to be an exceptional company that will be at the forefront of the rapidly evolving music industry landscape”.
Josh Simons, Founder and CEO of Vampr added “Combining our grassroots network with the definitive official music credits database is both a highly strategic and logical combination which we believe will provide great value to Vampr and Jaxsta’s users as well as our mutual shareholders. Our team cannot wait to get started and I’m personally very excited to work with Beth and the Jaxsta team to build transformational products for the music industry and music lovers.”