Lively, a promising SODO music startup that threw an opening party last November, has laid off 16 of its 22 staff members. Without a swift cash injection, the company may be calling it quits.
Lively was offering on-demand video and audio recordings of live concerts to mobile devices.
“We gave it a really good shot,” said founder and CEO Dean Graziano Thursday morning. “But we ran out of funding. The (record) label deals took a little bit longer than we had hoped. And a few funders pulled out at the last minute.”
Graziano and his remaining executive team are not quite ready to give up and he said his other employees are hoping to get back to work.
“We’re looking to raise a million dollars,” he said. “I have some other people who will jump in if we get that. There’s a lot here. But we ran out of runway.”
As of March, Lively, which made a splash this past March at the music, film and tech industry conference, South By Southwest, had by then raised more than $2 million in venture capital and had logged 193 shows.