E-tail giant Amazon has led an initial round of financing for digital music start-up AmieStreet, reports Reuters.
AmieStreet was created last October, the work of three Brown University grads. Songs are uploaded for sale by the artists and priced on a sliding scale, becoming more expensive as they build popularity, but maxing out at $.98.
The funding, said a founder, will allow it to expand its social-networking functionality.
The amount of the round was not disclosed.
Amazon is in the planning stages of launching its own music download service so some imagine AmieStreet functionalities may be incorporated into the final offering.
