Amie Street is an indie online music store and social network service created in 2006 by Brown University seniors Elliott Breece, Elias Roman, and Joshua Boltuch, in Providence, Rhode Island.
They have since graduated and moved the company to Long Island City in Queens, New York.
Their vision for Amie Street is to become "the most fun way to discover and buy music online", keep music social, and support the artists
Founded in early 2006, Amie Street opened to the public with a pre-alpha version on July 4, 2006
They began negotiations for the round in January 2007. Notable angel investors include Robin Richards, former president of MP3.com and David Hirsch, director of Google's B2B vertical markets group
Amie Street uses an algorithm to determine song prices based on demand. The price for a track starts at zero when a song is uploaded onto the site. It then rises according to the increased demand and purchase of the song. The maximum price any song will rise to is 98¢
Artists can upload their music directly to the site in MP3 format at whatever quality bit rate they choose, but when a record label or music distributor requires Amie Street to encode the music, they strive to achieve an average bit rate of 256 kbit/s using a variable bitrate.
As users buy songs, the artist is credited quarterly. Artists keep 70% of the proceeds after US$5 in sales for each song