Like so many great products, Red Witch Analog Lt began in a garage–not in Silicon Valley, but in Paekakariki, New Zealand. The company, currently raising funds on Snowball Effect, produces boutique analogue guitar and bass effects pedals, used by the likes of Sting, the Arctic Monkeys, Guns n’ Roses, Andy Summers of the Police and John Mayer, according to the company’s website.
At 78% of their campaign goal, Red Witch has raised $287,687 NZD of the $368,000 NZD target, with a $700,000 NZD cap. The minimum equity offered is 17.32%, and the maximum is 28.49%, with 47 investments as of this writing. Red Witch is in its growth phase, with a pre-money valuation of $2.66m discounted by 34% (17.32% of the company),and has currently has 1-5 employees.
A quick refresher on guitar pedals for those whose days in a garage band were long ago:
Guitar effects pedals are floor-based audio signal processors. Simply put – you plug a guitar in one end and an amplifier in the other and it changes the sound. When turned off, the sound passes through the pedal unaffected – when turned on the signal is electronically altered by the pedals’ circuitry.
The campaign notes that Red Witch first came to international prominence in 2008, when Andy Summers from the Police used hand-built Red Witch pedals on the Police Reunion tour. In the New Zealand Herald, Red Witch said that the global market for guitar effects pedals is estimated to be worth US$195 million annually and was the fastest growing segment in the industry–excellent timing for the company’s crowdfunding campaign, which focuses on driving sales through the precise execution of its brand strategy.
Red Witch Director Geoff Matthews says,
This is an exciting period of transformation for Red Witch Analog, as the company moves from having product development at the core of the business, to brand strategy driving business strategy.
For a musical sampling of Red Witch’s guitar specialty:
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