INTERVIEW: A change of Direction - Becoming an Entrepreneur
Ryan Edwards, CEO of tech and music start-up Audoo
Audoo provides technology that tracks music played in public places to ensure rights holders are compensated accurately.
What did you do before you became CEO of Audoo?
Before my professional career, I pursued my dream of being a musician and signed a record deal at the age of 18. Sadly, we didn’t achieve global rock god status.
Thereafter I grew my career across retail & digital business including Carphone Warehouse, Grapple Mobile which became Europe’s largest app developer and sold to Monitise PLC in 2013, then to Visa heading up data partnerships. I’ve been fortunate to work in great mix of corporate, and entrepreneurial business.
Why did you become an entrepreneur?
It’s funny, I never set out to be an ‘entrepreneur’ – the vision was a desire & idea to help. I’m motivated by the constant desire to deliver a level playing field for musicians. There has been a long-term challenge for the music industry for royalties to be distributed on real world/more accurate data and that’s where everything came together.
How much have you raised?
I have raised over £25 million to grow and accelerate the business through direct investment. I have avoided venture capital funds favouring family offices and those with deep industry knowledge to wrap the most experienced and successful people I could find around me.
What does private wealth mean to you now?
It’s about the obvious things like financial security for my daughter, wife and I, then it’s about making a difference. Wealth is a responsibility to ensure those in need can be helped and to create a better future. It sounds obvious, but I learn daily about how to do more.
What one tip would you give to someone thinking of changing of direction and becoming an entrepreneur ?
Just do it. There is nothing better than being your own boss. I’ve been able to recruit all the best people I’ve ever worked with across my career. We’ve created our own culture and I get to spend my time with people who inspire me daily. My largest regret in life is that I didn’t do it earlier.
If you would like to know more about Audoo, click here.