Over in the Irish Times (a national daily here in Ireland) Gordon Smith wrote a great piece on us today.
The link to the article is here. Some extracts:
A NEW Irish-based social network hopes to help guitar collectors find out whether their battered Strat was once gripped by Rory Gallagher, or whether Jimmy Page’s fingers ever danced across the frets of an old Gibson Les Paul.
The company has just completed follow-on investment to the tune of €80,000, and Colm Lyon, founder and chief executive of Realex Payments, will assist the company as an adviser and investor. Mr Lyon is highly regarded in the online payments industry. His company processes billions of euro for companies such as Aer Lingus and Virgin Atlantic. Gerry McQuaid, the former commercial director of O2, is a non-executive director.
The site will use a “freemium” business model, where many services will cost nothing, and other exclusive features will be available only to paying subscribers. Data from the US suggest the conversion rate to paying users is between 3-8 per cent of a site’s total audience, Mr Bohanna said.
DbTwang’s backers also have plans for an ambitious “guitar genome project” to build up a database on as many guitars in existence as possible, so that collectors will be able to check the origin of any instrument through the site.
It is great to have the vote of confidence from our latest investors and advisers – that support goes a long way to giving us what we need to build a place and a service which you as our users will enjoy.
keith