Patreon has acquired Moment, a Los Angeles headquartered live streaming startup formerly known as Moment House.
Moment House launched back in 2020 with $1.5 million in seed funding. The platform arrived amid a rise in consumer and investor interest in the live streaming space when live concerts were paused due to the pandemic.
The startup’s seed round of $1.5 million back in 2020 was led by Forerunner Ventures.
The company also secured angel investments from Scooter Braun, Troy Carter, Palm Tree Crew Investments (Kygo and Myles Shear), Jess Lee, a partner at Sequoia Capital, Jared Leto, Patreon CEO Jack Conte and more.
The platform then raised $12 million in a series A round in September 2021.
Moment was founded by Arjun Mehta, Nigel Egrari, and Shray Bansal in 2019 out of the Jimmy Iovine & Dr. Dre Academy for Innovation at USC.
The platform has previously hosted events by a range of artists including Halsey, Tame Impala, Kygo, Kaytranada, Yungblud, Grouplove, Bryson Tiller, Brockhampton, Flux Pavillion, Omar Apollo, and more.
In the coming months, Patreon says that it plans to integrate “foundational elements of the Moment and Patreon platforms to enable creators and fans to have a seamless experience across our membership, digital commerce, and digital event products”.
Patreon says that Moment has reached “millions of fans through digital live experiences since launching’.
Patreon’s acquisition of Moment follows the company’s recent rebrand identity, and introduction of a new mobile app, and suite of creator tools.
“Patreon’s mission has always been to help creators take control over their work, deepen connections with their most passionate fans, and build successful, sustainable businesses.”
Jack Conte, Patreon
“Patreon’s mission has always been to help creators take control over their work, deepen connections with their most passionate fans, and build successful, sustainable businesses,” said Jack Conte, Co-Founder & CEO, Patreon
“On the heels of releasing our new brand identity, mobile app, and a suite of creator tools, joining forces with Moment will further strengthen Patreon’s offerings for creators.”
“We built Moment to help artists and creators gather their global communities for premium live experiences while providing them complete control over creative and monetization.”
Arjun Mehta, Moment
“We built Moment to help artists and creators gather their global communities for premium live experiences while providing them complete control over creative and monetization,” said Arjun Mehta, Co-Founder & CEO, Moment.
“We are excited to join the Patreon team and deliver an even better, integrated experience to many more creators and their communities.”Music Business Worldwide