Watch CBSN Live

OurStage Raises $13 Million In Angel Money For Music Site

This story was written by Joseph Weisenthal.

OurStage, a startup that likens itself to an online version of American Idol, has raised over $13 million from over 100 angels, according to a Tech Confidential piece examining the unique nature of their fund raising (Wow..."angel" I suppose is relative these days). The Boston-based site lets bands upload videos that are pitted head to head with other artists (it calls it a bake-off), allowing fans to vote on which ones they like best. The company plans to offer sponsored competitions, and it has a partnership with AOL (NYSE: TWX) that involves advertising via Platform A.

By Joseph Weisenthal

View CBS News In