Amie Street, Rhode Island-based music startup with an interesting online music business model by allowing prices to be based on artist interest and demand, has taken a Series A round of funding led by Amazon.com. Though many were skeptical of Amie Street's model, I thought Amie Street could disrupt the music industry and it turns out Amazon.com is buying into it as well.
Jeff Blackburn, Senior VP of Business Development at Amazon.com had this to say:
"Amie Street has a very smart and innovative team...The idea of having customers directly influence the price of songs is an interesting and novel approach to selling digital music."
I agree. Amazon.com's backing definitely gives Amie Street's creative business model and others like it a boost of confidence.