After recently consulting with Harvard business experts and professional investors, LINKIN PARK has launched its very own venture capital firm called Machine Shop Ventures. According to The Pulse Of Radio, the company was quietly founded earlier this year after the band spent time studying the work of entrepreneurs and brands such as Jay Z, Pharrell Williams, Vice and Red Bull.
LINKIN PARK vocalist Mike Shinoda told Mashable: “We did a lot of homework so far. We are trying to make sure that we do our due diligence and we understand the landscape to the best of our ability.”
Machine Shop is described by the band as an “innovation company” that is focused on engaging with “non-traditional business partnerships” in the worlds of fashion, design, technology and music. The startup has invested so far in companies like Lyft, Shyp and Blue Bottle Coffee.
A marketing consultant to the band explained: “It kind of makes sense at this point in their careers to diversify. When they get a little older, and they all have kids now, and the touring is probably going to get a little less, having other forms of business and income (is good) and also just things to stimulate their creative outlets.”
LINKIN PARK is not quitting music, but Machine Shop executive VP Kiel Berry admitted: “Creating and selling music now plays more of a supporting role in our overall business mix… Today’s LINKIN PARK is now better positioned to operate in the ever-evolving cultural and business landscape.”
LINKIN PARK performs in Mexico Thursday night (June 25) and has a string of U.S. and European festival dates on its schedule for the summer, along with a five-city tour of China.