Update: As of the official end date of the Crowdfunder campaign, Pono Music has secured a whopping $7.2 million dollars. Even though it has far surpassed the original goal of $4 million, Pono has extended the equity fundraising period until Sept. 30. Still no word on how the company will be using its ever-growing war chest, or even why it has opted to push for another month of investments.
We reported last week that Pono Music had launched a new equity crowdfunding project to raise additional funds for its hi-fi digital music player and store. The monthlong Crowdfunder campaign has now achieved its goal just past its halfway point. Investors have pledged more than $5.24 million to the company thus far, and there are still two weeks to go.
Considering this new push comes on top of a $6.2 million Kickstarter project, Neil Young and his colleagues will have a tidy sum to work with come September. The new investors, who will get a stake of ownership in Pono, might be receiving details about the company’s plans. If any plans do exist, though, they haven’t been made public yet. We’re still eagerly awaiting any insights from Pono about how it will use its many millions.