The podcast industry is growing, but independent creators can still have a hard time making money. Now, they have a new option for bringing in some initial cash: a company called Podfund, which launches today, will begin making one-time investments in podcasts in exchange for a share of their revenue. The Podfund team has raised $2.3 million in its seed round, which will go toward investing in creators that they think have the chops to build a successful podcasting business. The company defines its potential investments as “emerging creator-led media companies with podcasts as a core strategy and driver of audience, brand, and revenue.”
The launch represents a new kind of funding model. While some new platforms, like Luminary, are paying…
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