Music Mayhem files as the first Specific Benefit Corporation in the history of Minnesota’s entertainment gaming industry. The ground-breaking for-profit organization will financially support research, advocacy, and high-quality care for individuals with Alzheimer’s and related dementias.
Ground-Breaking Minnesota Gaming Company First to File as Specific Benefit Corporation in Entertainment Gaming Space
making alzheimer's a distant memory, one song at a time ™
Minneapolis, MN - December 9, 2015 - Lauding the advantages of entertainment gaming with a social conscience, Music Mayhem sets a new entrepreneurial standard by filing as a Specific Benefit Corporation. As of the December filing, the social music knowledge game will operate as a for-profit corporate entity with the same authority as a traditional corporation. However, in addition to seeking profit, the company is required by law to consider the impact of its decisions not only on shareholders but also on society. Music Mayhem is the first gaming company in Minnesota to organize itself as a benefit corporation, and one of the first -- if not the first -- entertainment gaming companies in the country to take this step. The new gaming benefit corporation will donate a portion of its proceeds to Alzheimer’s disease research, care and advocacy.
Music Mayhem’s inventor Bill Solboe said he hopes his decision will set a new bar for the industry. “I’ve always funneled profits from Music Mayhem to Alzheimer’s research, and I’ve always worried a little bit about finding investors or partners who shared my commitment to help fund cure research. As a B corporation, Music Mayhem now has a legal obligation to fulfill its mission statement – and that is binding on investors or partners as well. It’s a great step forward for social entrepreneurship; I don’t know why more gaming companies aren’t benefit corporations – I’m proud for Music Mayhem to be at the front of this movement.”
The mission of which Solboe speaks is concise in its far-reaching goal. Music Mayhem will put its efforts into making Alzheimer’s “a distant memory, one song at a time.”
About Music Mayhem:
Music Mayhem is a fast-paced interactive game that challenges players to guess the title and artist of songs from any era or genre. Patented as a board game 25 years ago, Music Mayhem also has had success as a live performance show. It is now seeking funding on Kickstarter as an interactive online game show. The social game raises industry standards as a Minnesota Benefit Corporation, a benefactor of Alzheimer’s research and related advocacy programs.
Information:
To support the Music Mayhem Kickstarter campaign starting December 2nd visit back.musicmayhem.net.
Contact:
Bill Solboe, Inventor
bill@musicmayhem.net
612-730-8872
Social Media:
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