Singtrix
| ISIN | 🆔 |
|---|---|
| Industry | Manufacturing |
| Founded 📆 | 2011 |
| Founder 👔 | Eric Berkowitz, John Devecka |
| Headquarters 🏙️ | , New York, United States |
Area served 🗺️ | |
| Products 📟 | Karaoke machine |
| Revenue🤑 | $3 billion |
| Members | |
Number of employees | |
| 🌐 Website | https://www.singtrix.com/ |
| 📇 Address | |
| 📞 telephone | |
Singtrix
Singtrix is a New York based smart home karaoke machine designed by Eric Berkowitz and John Devecka,[1][2][3][4][5][6][7] in 2011. Singtrix uses unique technology to make its users’ voices sound better, or merely different.
History
Singtrix started in 2011 with the production of Karaoke machines.[1][2][3][5][6] Singtrix devices were sold for $350 each. Singtrix was temporarily closed due to a fire at the production center and reopened after a two-year gap.[4][8][9]
Singtrix appeared on ABC’s show Shark Tank but did not raise any funds on the show. Investor O'Leary offered $1.5 million for an initial 50% stake, and investor Robert Herjave proposed investing $1.5 million for a 20% stake.
Overview
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 are currently manufactured by Charles and Kai Huang, and sold at 3,500 retail locations including Amazon and Guitar Center.
These machines later became unavailable in 2017, due to production problems, and manufacturing halted for almost two years. It reappeared with an Indiegogo campaign in March, seeking $30,000 in support from investors to bring it back.
Investors/Partnering
Singtrix partnered with VH1 and the Save The Music Foundation and donated $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
- ↑ 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
This article "Singtrix" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Singtrix. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
