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Sellaband Declares Bankruptcy

News

If you haven’t been following the news over at Sellaband, they recently died on the table and came back like someone suffering heart failure in a hospital. They’re under new ownership now, good for them, but the “am I going to ever see the money I invested” scare was bad enough for me that I’m recommending my fans pull out of Sellaband immediately and simply reinvest their money directly into the artists they support (whether it’s me or someone else). Here’s the reasoning:

  • Sellaband was set up to help artists record albums.
  • I own my own studio and I’m already releasing new songs every single month.

So instead of trying to raise $15,000 or more for a single album, I would rather spend that kind of money on things that will create better recordings month after month:

  • Better speakers so I can mix more accurately (about $800)
  • Sound treatment for my studio walls (about $350)
  • A newer computer that can handle more plugins (about $1,000)
  • A budget for real guitarists, drummers, etc. instead of the software instruments I use now
  • A budget for a real mixing engineer who knows what she’s doing

Any one of these things would help me improve the quality of sound that I’m already creating and releasing to my fans. If you’re supporting me via Sellaband, here’s what I’d like to see you do…

My Recommendation

If you’ve invested money in me via Sellaband, thank you! I sincerely hope you’ll take that money you’ve already invested in me and simply send it to me directly. You already believe in me enough to lay your hard-earned bread on the line, let’s put that money to good use…

  1. Sign in to the new Sellaband. You’ll be confronted with a screen that looks like this:

    As soon as you click “I agree” you will only have 2 weeks to refund your money. After that, it must stay with Sellaband. Forever.
  2. Click on “I Am Funding” from your Dashboard menu. You’ll see a +/- icon by each artist you’ve invested in. Click the – icon to withdraw parts from an artist.
  3. “Sell” all of your “parts” that you invested in Matthew Ebel. If you really believe in me, it may seem weird that you’re “Unsupporting” me, but trust me on this one. There are better ways to support artists.
  4. Click on Your Balance, the link is in the upper-right corner. If you were gifted any parts, they’ll show up in your balance… but you won’t be able to turn them into cash. You haven’t lost any money in that case, though.
  5. Click the “Payout” button to get your refund.
  6. Enter your PayPal address. This is where you’d like the money sent. If you want to send it directly to matthewebel at matthewebel .dot. com that’s up to you, otherwise enter your own info for a normal refund. When you’re done, click Submit.
  7. Wait for the confirmation email and be sure to click the confirmation link! It may take a few minutes for the email to arrive, but it’ll come eventually. If you don’t click the confirmation link, though, nothing will happen.
  8. Wait a few days. Sellaband is probably backlogged with people doing this, so it may take a week for them to process your refund.
  9. Once your refund arrives, please use PayPal to send the money to matthewebel at matthewebel .dot. com Unlike Sellaband, I will actually put your money to immediate use making new music and live recordings.

You Get Immediate Benefits

Because you’re now supporting me without some escrow or micro-financing scheme, I can give you the music you want immediately, and for putting up with this Sellaband B.S., I want to offer you some special perks for your continued support:

  • If you send me your refund of $140 or more I’ll send you a coupon code good for 1 year of my VIP Pass.
  • If you send me your refund of $90 or more I’ll send you a coupon code good for 1 year of my All-Access Pass.
  • If you send me your refund of $40 or more I’ll send you a coupon code good for 1 year of my Backstage Pass.
  • If you’re going to send a refund of less than $40, STOP! Since each $10 “part” is the same price as an album on iTunes, why not just buy some albums and get my music right frickin’ now? If you already own those albums, you can always gift them to a friend who hasn’t heard me yet.

If you’re already a member at Matthew Ebel dot net, I’ll still send you the coupon code. You can either use it to renew your account when it expires or give it to a friend as a gift. Either way, I’m grateful for your continued support.

In Conclusion

Sellaband has really fucked up. As a result, it’s made our relationship a little rocky, and that’s the last thing I want. Your support is what gets me up in the morning and keeps me writing new tunes. If you’ll Believe in me during this little pain in the ass transition, I promise I’ll keep making the music you chose to invest in.

No, screw that, I’ll make it even better.


  • Nice post, but this brings me to question: Why have you ever signed up at Sellaband, when there are so much better ways to support you?
  • Khyber Kitsune
    I'm down to donate towards speakers and sound treatment. Just tell me where to send the money order, because I refuse to do most any online payment unless absolutely necessary.
  • While I'm always amenable to donations (mailing address can be found at http://matthewebel.com/main/contact/#snailmail btw), this was more for the people who had already invested money towards my next album release. If you'd still like to help build the studio, though, I certainly won't object. Thanks!
  • Phil Bowman
    Thanks Matthew, what a mess!

    As I originally intended to sign up for ME.net for a limited time with some money I won, I will use the $20 I put in sellaband to stay subscribed for another three months. Hope that's OK with you :)
  • Oh most definitely that is okay by me. That's exactly what I'm trying to get my Sellaband believers to do anyway... they signed up there because they wanted new music from me, well matthewebel.net is the way to get it!
  • AmazingAdrian
    Sellaband sounds like an interesting idea, but I think they were too narrow in their vision. You can't support a band merely by selling shares of investment. Maybe if these guys had done things like actually getting musicians together for recordings, provided a studio or album printing themselves, and generally acted like an amateur label on top of this they would have done all right.

    I'll support you by buying your albums! I still prefer physical cd's over digital releases, so as long as you have them available, I'll continue to purchase your awesome music.

    (If you need help funding future releases, you might want to try Kickstarter. A friend of mine has had some success with them funding a book that he's writing. Unlike with Sellaband, it appears as though everything is in the artist's control.)
  • Done. Thanks for the heads-up.
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