Fireside, an audio application founded by Mark Cuba, is asking its own users to invest

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An audio application funded and co-founded by Mark Cuban Fire side has not yet been made public, but it is already asking money from limited actors in its border area. In an email sent to users last night that you reviewed Limit, founder and CEO Falon Fatemi says he and the team will approve the investment during August from anyone interested.

“If you believe in our vision, this is your chance to be a part of it,” he writes. “Put your money where your mouth is 🙂 (We did.)”

The email says more information is coming and does not state the terms of the contract, how the investment will work, what the app’s valuation will be, or how much the team hopes to raise. But the email also makes a couple of other announcements about the future of the app and its vision.

At a Podcast Movement conference next week, Fatemi says she and Cuba will step on stage to announce a partnership with Libsy, a podcast hosting service. Like Limit reported in March, Fireside hosts live audio chats in the same way as the Clubhouse and allows users to record these chats. The team had told the authors that it intended to allow them to distribute their files as RSS-based podcasts, and the Libsyn partnership appears to be the solution to that goal. Fatemi says users can share their programs as podcasts with a single tap if they wish.

He also says the team has signed a deal with audio equipment company Rode to offer users discounts on a variety of equipment. Again, no details were given.

A representative of Fireside declined to comment. We’ve also contacted Libsyn and Rode and will update if we hear back.

Meanwhile, the Fireside app launched on iOS last week in a closed beta. Users who download the app can register with their phone number and email address to try to get off the waiting list. Fatemi writes in her email that the app is not very similar Clubhouse, Facebook Live sound roomsor Twitter status.

“As many of you know, early media speculation misclassified us as a social voice – as many of you have said, we are creating a whole new class,” he writes. What exactly the new class is, I am unclear. Below is an app pre-trailer that focuses on digital content producers who own their work.

Still, despite Fireside’s ownership goals, a podcasting newsletter Podnews ticket last week that some of the terms of the app stood out from being friendly to content providers. In particular, Fireside and its affiliates may use “the recordings, including your name and appearance, for any commercial and non-commercial purpose (including the creation of the NFT), including using, reproducing, distributing and licensing to others in accordance with Fireside’s Terms of Service, all currently or hereafter covered without further compensation or permission. ”

The terms also appear to give Fireside final ownership of the recordings made in the app, and an arbitration clause is also included. Some of these details may be standard, but again they stand out because of Fatem’s stated interest in exempting authors from binding ownership agreements.

It’s unclear when Fireside will launch in public, no doubt the details everyone wants to hear.

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