Whyd, The Social Network For Music Lovers, Raises $700,000

Whyd, a social network based around aggregating music, has raised $700,000 in a new round of funding.

Founded in April 2012, the social network has been in private beta since November 2012, and is now open to the public.

Whyd works by enabling users to share and curate music from SoundCloud, Vimeo, YouTube and more.

According to the social network, 20 percent of active users return daily, and around half a million songs have been added or shared.

From Co-Founder Gilles Poupardin:

“We’re not talking about Top 40 mainstream hit songs but about indie tracks, remixes and playlists discovered by a unique community of music lovers around the world.”

Whyd still has a lot of growing to do with users in the “dozens of thousands,” but with a cash injection and availability to the public, it looks to capture a piece of the social media pie.