CROWDMIX KAPUT
Crowdmix, the grossly ambitious British start-up backed by former UMG digital exec Rob Wells and digital/marketing/A&R veteran Dick Wingate, is going into administration, according to Business Insider.
Founded in 2014 by Ian Roberts and Gareth Ingham, the idea was to launch a music-related social network, details of which were sparse.
Around 160 staff were recruited in London and Los Angeles, with Wells named Global Commercial Officer and CEO – The Americas and Wingate President, Artist & Entertainment Services for North America.
More than £14m in venture capital funding has been raised, with billionaire property tycoon Nick Candy the largest investor, pumping £6.5m into the business. In total, Crowdmix spunked £25m, according to their PR man, who is owed £12k.
The first inklings of its imminent downfall came in June when Roberts left with around 8% of staff after an invite-only version of the app had launched in May. The remaining staff members were given the bad news Monday.
HIPGNOSIS BOARD APPROVES UPPED BLACKSTONE BID
But it ain't over till it's over. (4/29a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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JAMES KING: THE HITS INTERVIEW (PART ONE)
