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February 14, 2008
Social Network Imeem Acquires Fanning's Snocap
Music-focused social network Imeem has acquired Snocap, the digital music licensing company founded by Napster creator Shawn Fanning, according to TechCrunch, which added that the purchase price will likely not be disclosed.
Founded in 2002, Snocap has to date raised $10 million in venture capital, and done deals with MySpace and Imeem, among others.
The company's technology powers digital song stores on MySpace, while Imeem is using Snocap's digital fingerprinting technology for royalty tracking and payments.
Social Network Imeem Acquires Fanning's Snocap
Music-focused social network Imeem has acquired Snocap, the digital music licensing company founded by Napster creator Shawn Fanning, according to TechCrunch, which added that the purchase price will likely not be disclosed.
Founded in 2002, Snocap has to date raised $10 million in venture capital, and done deals with MySpace and Imeem, among others.
The company's technology powers digital song stores on MySpace, while Imeem is using Snocap's digital fingerprinting technology for royalty tracking and payments.
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