The Coachella Valley Music and Arts Festival started in 1999, was semi-succesful, but regardless, they didn't make any profit. The next year there was no festival due to budget issues. The next few years, they scraped together enough money to have a few more festivals, but they weren't all that successful all at once, but rather, they formed a sort of cult following. Today, the Coachella Music Festival is one of the most successful music festivals of today. This year's festival took place April 16-18, in Indio, California, and its line-up included such acts as:

Yeasayer

Vampire Weekend

The xx

Spoon

She & Him

Phoenix

Passion Pit

Grizzly Bear

Girls

Dirty Projectors

Deerhunter

Beach House
That's only about a quarter of who played. Other acts included De La Soul, Fever Ray, Whitest Boy Alive, Yo La Tengo, Die Antwoord, MGMT, Charlotte Gainsbourg, Matt & Kim, and many, many more. I wish I had been there!
Photos thanks to Pitchfork.
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