Singtrix
| ISIN | 🆔 |
|---|---|
| Industry | Manufacturing |
| Founded 📆 | 2011 |
| Founder 👔 | Eric Berkowitz, John Devecka. |
| Headquarters 🏙️ | , New York, United States |
Area served 🗺️ | |
| Products 📟 | Karaoke machine |
| Revenue🤑 | $3billion |
| Members | |
Number of employees | |
| 🌐 Website | https://www.singtrix.com/ |
| 📇 Address | |
| 📞 telephone | |
Singtrix[edit]
Singtrix is a Newyork based smart home karaoke machine designed by Eric Berkowitz and John Devecka,[1][2][3][4][5][6][7] in the year 2011. Singtrix uses unique technology to make their users voice sound better, or merely different.
History[edit]
Singtrix started in 2011 with the production of Karaoke machines.[1][2][3][5][6] Singtrix devices were sold for $350 each. Singtrix was closed due to fire mishap caused at the production center and remained closed for a while, and reopened after two years of gap.[4][8][9]
Singtrix appeared in ABC’s show Shark Tank but did not raise any funds on the show. Investor O'Leary offered $1.5million for an initial stake of 50% stake, and investor Robert Herjave proposed investing $1.5 million for a 20% stake.
Overview[edit]
Eric’s karaoke machine kit is used to replicate the voice played over the device.[1][2][3][5][6] Guitar hero Creators launched Singtrix Karaoke Machines which is currently manufactured by Charles and Kai Huang, and sold at 3500 retail locations including Amazon and Guitar Center.
These machines later vanished in 2017, due to production problems, and halted manufacturing for almost two years. It reappeared with an Indiegogo campaign in March, seeking support from investors of $30,000 to bring it back.
Investors/Partnering[edit]
Singtrix partnered with VH1 Save The Music Foundation and gave $5 to the foundation for every sale. Singtrix started third-party retail sales.
Singtrix made a revenue of $1.2 million in the first six months, with a profit margin of 40%.
References[edit]
- ↑ 1.0 1.1 1.2 "IRL: Singtrix karaoke machine". Engadget. Retrieved 2019-06-14.
- ↑ 2.0 2.1 2.2 Baldwin, Roberto (2014-02-10). "This Miracle Karaoke Machine Will Fix Your Terrible Voice". Wired. ISSN 1059-1028. Retrieved 2019-06-14.
- ↑ 3.0 3.1 3.2 "Auto-tune your karaoke sessions with Singtrix". PCWorld. 2014-01-09. Retrieved 2019-06-14.
- ↑ 4.0 4.1 "Singtrix.eu". www.singtrix.eu. Retrieved 2019-06-14.
- ↑ 5.0 5.1 5.2 "Guitar Hero Creators Launch Singtrix, A Karaoke Lover's Dream". TechCrunch. Retrieved 2019-06-14.
- ↑ 6.0 6.1 6.2 "Singtrix company information, funding & investors". app.dealroom.co. Retrieved 2019-06-14.
- ↑ Dawson, Steve (2016-05-31). "Singtrix Update - What Happened After Shark Tank". Gazette Review. Retrieved 2019-06-14.
- ↑ GmbH, finanzen net. "Shark Tank's Singtrix Karaoke Makes a Comeback with #1 Trending Indiegogo Campaign | Markets Insider". markets.businessinsider.com. Retrieved 2019-06-14.
- ↑ "StreetInsider.com - Press Releases". StreetInsider.com. Retrieved 2019-06-14.
External links[edit]
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