News Column

Sonicbids and its Founder Panos Panay Announce Departure

November 13, 2013

YellowBrix

BOSTON--(BUSINESS WIRE)-- Sonicbids and its CEO Panos Panay announced today that he will be leaving the company he founded 13 years ago on November 15. He will continue to serve as a senior advisor to Sonicbids and the Billboard Group, while further focusing on his active role as an entrepreneurial visionary and mentor in the Boston startup space.

"I'm proud of what we achieved at Sonicbids and very grateful to have worked with a team who shared my vision and passion to fundamentally transform the way new music is promoted around the world," said Panay. "From a company that I started in my apartment, Sonicbids has grown into the industry standard for connecting bands and music promoters, contributing to the booking of nearly one million shows. It has democratized the process of musicians gaining access to diverse audiences, enabling people from over 100 countries to cross borders and touch audiences from different cultures to which they never would have had access otherwise. I feel like one of the lucky ones to have accomplished my dream with this company."

Panay's announcement comes 10 months after the company's purchase by Backstage LLC in a deal backed by Guggenheim Partners.

"The success of Sonicbids is a tribute to the drive and entrepreneurial spirit of Panos," said John Amato, Chairman and CEO of Backstage. "He has left us with a great foundation on which to continue to build. I look forward to continuing our relationship with Panos as an invaluable advisor to Billboard Group and Sonicbids."

About Sonicbids

Sonicbids is the leading matchmaking site for bands to get gigs and promoters to book a band online. It connects more than 550,000 bands with 35,000 promoters from more than 100 different countries. It offers exclusive partnerships with premier events like South By Southwest (SXSW), Bonnaroo Music and Arts Festival, CMJ Music Marathon, Spain's Primavera Pro and Canada's North By Northeast (NXNE). Consumer brands use Sonicbids for music branding strategy and partnerships. These brands include Renaissance Hotels, Marley Beverage Company, Anheuser Busch and Diesel Industry. Learn at www.sonicbids.com.

For Panos Panay Katie Martell, 617-426-2222 kmartell@v2comms.com

Source: Panos Panay

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