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Mamaroneck High School Grad Develops iPhone Application

Mamaroneck High School Grad Develops iPhone Application

2004 MHS graduate Richard Zelson developed a music sharing application for the iPhone that launched last month.

Like the old adage about falling in love, the best business ideas typically present themselves when you’re least expecting it.

Take for the instance the idea behind MyStream, a music streaming application developed by 2004 Mamaroneck High School graduate and entrepreneur Richard Zelson.

Traveling in Rome with a group of friends, Zelson was frustrated by the lack of options—outside portable speakers or sharing headphones—to listen to the songs his friends were listening to.  He became intrigued by the idea of connecting to his friend’s music wirelessly.

In January of 2010, Zelson formed the company that would eventually launch MyStream, a free application for the iPhone that allows music to be streamed through WiFi or Bluetooth to other users.

A team of developers from Adev Inc. assisted Zelson with shaping his idea into a workable feature.

Through the free application, which can be downloaded on iTunes, users can share audio and audio books stored on their iPhone with other users—up to 10 utilizing a WiFi connection or 4 using Bluetooth—who are nearby.  Rather than have to go home and research the song you just heard, said Zelson, a “Buy it Now” button conveniently links the user to iTunes where the song or album can be purchased.

“It increases exposure to new music in a legal way,” explains Zelson.

MyStream was financed in two parts; the first round of financing, $300,000 from family and friends, was followed by another infusion of $500,000 from Cooke, LLC., Kim Cooke’s private investment firm.  Cooke is also a co-founder of Blue Water Capital, a technology venture capital firm.

At the moment, MyStream gets a five percent commission from songs or albums purchased through the app, says Zelson, as well as revenue from ads within the app that people click on.

“Eventually we plan to charge $1.99 for the app but not until we have a large enough user base,” says Zelson, about future plans for the company’s profit margin.

Zelson, a music fan, also hopes to increase exposure for little-known bands through networks of people sharing their favorite music.

“People like sharing their music with friends—MyStream is a real-life type of application.”

[Thanks: http://larchmont.patch.com]

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