Snocap

  • Imeem Confirms Snocap Acquisition

    After a long search that turned up no other buyers, Shawn Fanning’s startup Snocap is being bought by music social network imeem. We first reported the deal in February. Imeem is officially announcing the deal today. Terms are not being disclosed, but we believe it was less than $5 million—a fire sale price compared to the $10 more than $25 million that was invested in Snocap. Read More

  • Who Bought Rupture?

    We knew something was up when Shawn Fanning’s startup Rupture, an unlaunched social network around gaming, delayed and delayed their launch. Well, it turns out, say multiple sources, that Rupture was able to do what Parakey pulled off in 2007. Get acquired before launching, that is. We’re shaking trees to find out the buyer and size of the transaction. But Fanning, who founded… Read More

  • Imeem Acquires Snocap

    Digital music wholesaler Snocap, long searching for a buyer, is being acquired by music streaming site Imeem. The price will likely not be disclosed. Snocap was founded in 2002 by Napster creator Shawn Fanning, Jordan Mendelson and Ron Conway. The company raised $10 million from Conway, Morgenthaler Ventures and WaldenVC and did high profile distibution deals with MySpace and others, but… Read More

  • Snocap Drops 60% Of Staff And On The Market: Looking Good For The Deadpool

    B2B digital music distributor company Snocap, the spawn of Napster founder Shawn Fanning, looks like its warming up for a Deadpool entry with confirmation by CNet that the company has let go of 60% of its staff and is on the market. Snocap has apparently “received interest from several companies” as is pursing these for an asset sale. Snocap was founded in 2002 and has amongst… Read More

  • Imeem Now Officially Legitimate

    Social network Imeem and Snocap have officially launched their previously announced partnership to prevent copyright infringement and pay artists for the songs that people upload and stream to themselves and others. The pair and over 5,000 independent labels, like Nettwerk and Orchard, will pay artists on Imeem a share of the advertising revenue generated from ads that run along with the music. Read More

  • SNOCAP Announces Alliances with Major Labels

    Back in September we reported that MySpace had begun allowing artists to sell music directly using SNOCAP MyStores. The service utilizes MP3s without DRM of any kind. Due to the DRM-free format, was unclear at the time whether or not MySpace and SNOCAP would strike a deal with any major labels, as they typically prefer to keep their tracks closer to the chest. All of that changed today… Read More

  • Shawn Fanning's New Social Network Will Comply With WoW

    A representative for Shawn Fanning called TechCrunch today to make it clear that the social networking site that the Napster founder plans to launch next year will indeed be compliant with World of Warcraft’s (WoW) terms of use. BusinessWeek reported that Fanning, the founder of Napster and Snocap, is in the development stages for a new social networking site called Rupture. The site… Read More

  • MySpace To Sell Music Through Snocap

    MySpace is getting into the music business. They announced today that they will allow nearly 3 million unsigned bands to sell their music directly to Myspace users. Snocap will provide the back end technology for the service. The agreement also includes performance-based warrants to purchase stock in SnoCap(Fox recently took an equity stake in startup SimplyHired as well). The music will be… Read More

  • SNOCAP Profile

    Company: Snocap Location: San Francisco, California

    Status: Launched June 13, 2005 Founded: September, 2002 What is it? Snocap allows those who own rights to music to place them onto p2p networks and retail sites with DRM. This means that, through Snocap, music can theoretically be controlled (charged for and copies restricted) and still leverage the extremely popular p2p sites for distribution. Read More