Comments on: Imeem Confirms Snocap Acquisition

By: Terbaik.Net » Blog Archive » Shawn Fanning Finally Gets A Real Payday: Electronic Arts Buys Rupture For $30 Million

Sat, 10 May 2008 15:43:35 +0000

[...] bankrupt doing so. And although he just sold his second startup SnoCap to Imeem, that was more of a mercy acquisition. It is doubtful that he made more than a few pennies on that sale. You know what they say. Third [...]

By: Shawn Fanning Finally Gets A Real Payday: Electronic Arts Buys Rupture For $30 Million

Thu, 08 May 2008 22:27:03 +0000

By: JMill

JMill — Wed, 09 Apr 2008 14:58:45 +0000

I’m actually doing research for a project at MIT on the digital music industry. We’re giving away $5 in free Amie Street credit for everyone who completes the survey. Please click the link below.

http://www.surv...VqmSFGHNg_3d_3d

By: Ewaste

Ewaste — Tue, 08 Apr 2008 06:21:06 +0000

very interesting

By: TechCrunch Japanese アーカイブ » Imeem、ショーン・ファニングのSnocap買収を正式に発表

TechCrunch Japanese アーカイブ » Imeem、ショーン・ファニングのSnocap買収を正式に発表 — Mon, 07 Apr 2008 20:20:33 +0000

[...] [原文へ] [...]

By: mark

mark — Mon, 07 Apr 2008 18:07:18 +0000

“…had raised at least $25 million from investors including Morgenthaler Ventures, WaldenVC, and Court Square Ventures.” – at least boy Rafat over at paidcontent.org is going from just “aggregating third party stories” to doing re-writes after being spoon fed with the facts – http://www.paid...service-snocap/

No secret that Arrington is good friends with Ron Conway who seeded Shawn Fanning in all his ventures (none of which saw a profitable exit) – is that friendship making TC hype the garage sale as a liquidity event? Hmmm.

By: Adam Wexler

Adam Wexler — Mon, 07 Apr 2008 17:34:56 +0000

If I could look at one company’s financial statements, Imeem would be it! I wish them the best, but they have surely spent a lot of $$ up to this point. Time will tell..

By: Anish Raikar

Anish Raikar — Mon, 07 Apr 2008 17:25:52 +0000

@ RobGo

Funny comment, but there were no Jedi mind tricks involved.

Imeem paid the labels almost $30 million in upfront payments (plus ongoing revenue shares, minimums and equity stakes) to make the lawsuits go away.

By: Ricky

Ricky — Mon, 07 Apr 2008 16:56:20 +0000

Just awful reporting on so many levels. The only accurate note is that snocap has been acquired by imeem.

By: Erik

Erik — Mon, 07 Apr 2008 16:55:17 +0000

You think Fanning got a payday from a $5M sale when the company raised more than $10M at a minimum of a $20-30 million dollar valuation?

Maybe he got to keep his laptop…

By: mark

mark — Mon, 07 Apr 2008 16:41:08 +0000

@Trey – you might find this of interest – it is not just TC – boy Rafat has something similar – almost funny – http://www.paid...service-snocap/

By: mark

mark — Mon, 07 Apr 2008 16:36:16 +0000

http://news.yah...ital_music_dc_2 –

btw – Ted Cohen mentioned in the was an advisor to Imeen till the VC came in – so he should know all too well.

By: RobGo

RobGo — Mon, 07 Apr 2008 16:28:11 +0000

I don’t know about walking on water but he pulled off some kind of Jedi Mind trick on the music business:

Warner: “we’re going to sue your company for one billion dollars”
Dalton: “This isn’t the lawsuit you’re looking for”
Warner: “This isn’t the lawsuit we’re looking for”
Dalton: “We can go on with our business”
Warner: “You can go on with your business”
Dalton: “We could really use your record catalog”
Warner: “Here, use our record catalog”

By: Ob1

Ob1 — Mon, 07 Apr 2008 16:08:23 +0000

Is it not the case that Imeem have also raised slightly more than the $750k mentioned on the company breakdowns below each article?

If not- they’ve sure done a ‘loaves and fishes’ on it… Can Dalton also walk on water?

By: Trey

Trey — Mon, 07 Apr 2008 15:58:27 +0000

More shoddy reporting from TechCrunch. First, it’s Shawn Fanning, not Sean. Second, a simple Google search will show you that SNOCAP raised much more than $10MM. I’m all for the blogosphere, but gaffes like this (which have been repeated by Techcrunch multiple times on this very story) show that at the end of the day, y’all are just a bunch of amateurs.

By: Ted Shelton

Ted Shelton — Mon, 07 Apr 2008 15:51:57 +0000

Aren’t both of these Morgenthaler companies?

By: Passing By

Passing By — Mon, 07 Apr 2008 14:42:23 +0000

From what I’ve read one of imeem’s founders came from Napster and brought most of the original engineers from there. This made a lot of sense when they were in the P2P app business, but it makes even more sense now they’re in the music sharing business.

In many ways imeem has grown into the true ’son of napster’, like an foster child who after failing in the IM business found that the music thing was what was really in his genes.

By: mark

mark — Mon, 07 Apr 2008 14:41:49 +0000

http://www.tech...bought-rupture/ – Comment No. 13 – TC needs to do some checking up on the real amount of funding – no response from Michael when I asked on Feb 17, 2008 in his commentary above – cheers.

By: TG

TG — Mon, 07 Apr 2008 14:38:04 +0000

http://www.stan...s%20Release.pdf –

“CSV II recently made its first investment, leading a $15 million Series C investment in SNOCAP, Inc.” – March 24, 2006 – adds up to a whole lot more than 10 million if C round was 15 million!

By: Jack

Jack — Mon, 07 Apr 2008 14:15:08 +0000

I suppose it’s possible that Fanning will see some payday from Snocap selling at such a loss to the investment valuation if he was able to negotiate preferable terms due to his “celebrity” status but it’s pretty rare to see VC terms these days without some liquidation preferences that protect them against firesales like this.

By: mark

mark — Mon, 07 Apr 2008 14:07:19 +0000

ERIC – Snocap raised a whole lot more than 10 million – http://www.stan...s%20Release.pdf

I mentioned this in my comments when Michael posted a few weeks ago –

http://www.tech...bought-rupture/
comment no. 13.

how about TC checking out the numbers…..