We recently covered widget-maker Gydget, when it switched over to the widget business from its previous incarnation as events site Attendio.
At the time, we mentioned that the company was seeking a fresh infusion of capital from its investors. It has now received the round, from investor SunBridge Partners, although it isn’t disclosing how much.
Gydget is a good example of a company that seems to have found a viable business plan in the course of an unsuccessful first try. Attendio never gained much traction, but the company tells us that its Gydget widgets are in active use.
Some new celebrities using the widgets include Henry Rollins, Paul Oakenfold and Unkle, as well as the whole artist catalog of Curb Records. Two larger labels, EMI and Universal Records, are also preparing to roll out the widgets, according to the company.
Gydget’s main competition is probably SplashCast, which has Columbia Records on board (see our previous coverage). However, the true risk for widget companies is always the Next Big Thing.
Most deals with record companies are non-exclusive, meaning artists can drop out at any time in favor of using a new, slicker technology.
