AN Australian technology investment company has bought a stake in a new American social media app linked with Michael Jackson’s estate.
YONDER and Beyond, which listed locally in February, is buying 10 per cent of PlayMeet, which will connect users who share similar musical tastes, whether it’s Kylie Minogue, Elvis Presley or One Direction.
“Tinder for music is the best way to explain it,” chief executive Shashi Fernando told AAP, comparing it to a popular dating app. “If you’re playing a lot of Kylie underneath, it will also know that and match you to different groups of people that you can interact with.” PlayMeet launched as a Sony joint venture 2013 but it won’t go live in Australia and the US until May. It has been likened to the era of cassettes, when friends shared personal mix tapes with each other. “That whole ability to share and work with each other to create stuff for each other is not there anymore so PlayMeet plays into that,” Mr Fernando said. Renowned music producer John McClain, an executor of Michael Jackson’s estate who has previously worked with Janet Jackson and Justin Timberlake, helped create PlayMeet. Yonder and Beyond is acquiring a 10 per cent interest in the app for $US1 million, staged over two $US500,000 transactions. Yonder is based in London, with offices in Perth and Los Angeles. It joined the Australian Securities Exchange by taking over shell company Quintessential Resources, which had been a Papua New Guinea gold miner. Yonder and Beyond shares fell two cents to 18 cents.