Last time we checked in with Groupmuse, the startup that allows people to open up their living rooms to hold intimate chamber music concerts to members of the community, it had just started trying to get legs. Now, more than two years later, the company has grown within and outside of Boston - and are looking to expand some more.
I caught up with Sam Bodkin, Newton native and founder of Groupmuse, and he filled me in on both how far the company has come, as well as where it’s hoping to go after its Kickstarter campaign, which launched today.
Why they ruled out VCs
Since the startup’s inception, the Groupmuse team has been bootstrapping. They had briefly contemplated raising a round of funding from private investors, but in the midst of everything, they realized it wasn’t for them. And that’s mainly because they’re so passionate about allowing people to share in genuine, close-knit classical music experiences that profits are a secondary priority.
“We were immediately uncomfortable as we were talking to venture capitalists in San Francisco,” explained Bodkin. “We weren’t fond of the notion of taking on investments because that would put us under an undesirable kind of pressure. VCs are looking for a return and aren’t as focused on the value of supporting classical music, which is our true mission.”
For many entrepreneurs, shutting out the possibility of pursuing VC backing - for any reason - is pretty insane. But when you hear how animated Bodkin becomes talking about Groupmuse’s values and vision, you begin to understand why he doesn’t want to sell out to investors.
“Classical music has developed over the past thousands of years being written specifically for intimate spaces,” Bodkin told me. “We’re bringing it back to where it’s meant to be performed and contemplated.”
“There’s something special about being packed in someone’s private residence,” he continued. “There’s a trust implied by letting strangers into your home. And add to that an element of spiritual intimacy. There’s something beautiful, delicate and nuanced that’s happening in front of you with group of strangers, and it can be a surreal experience.”
Crowdfunding is keeping it about the community
That’s not to say that money doesn’t come into play for Groupmuse. The startup has been growing, but Bodkin knows they can’t go it alone as they continue to expand. So, they’ve launched a Kickstarter campaign, starting today.
“So far, we’ve done all of this with very little capitalization,” said Bodkin. “There’s been a crowd of people who come to events every week, keeping us going. So it only makes sense for us to turn to them for support, which is why we’re looking to crowdfund.”
With the goal of $100,000, Groupmuse is hoping to use the Kickstarter funds to keep going strong in Boston, San Francisco and New York City, as well as launch in Seattle. And while Bodkin is looking forward to bringing Groupmuse to more and more cities across the U.S., he did throw credit to their success so far in Boston’s direction.
“Our successful start is emblematic of Boston’s unique culture,” Bodkin stated. “Boston’s density of classical music talent, the amount of cultural ambition and its propensity for innovation have all contributed to our traction. Something as quirky and eccentric as Groupmuse would have had a tough time starting in San Francisco or New York.”
“After we proved that Groupmuse was viable in Boston, that’s when we could make moves to bigger cities,” he concluded.
