Music

Spotify Worth, Like, a Billion Dollars; NYC Office Hiring Person to Hire More People

spotify kanye tweet

Spotify has raised $100 million from Digital Sky Technologies, Kleiner Perkins and Accel Partners at a $1 billion valuation in advance of its takeover of America. (That’s half Pandora’s valuation in its IPO.) The streaming music service is all the rage overseas, where it has a million paid subscribers (and here too, where some hackers have figured out loopholes to get around its barriers) but has struggled to secure licensing deals with U.S. labels and it took them six months to raise their funding, AllThingsD reports. Read More

Music

Evil Triumphs: RIAA Close to Squeezing Money Out of Limewire

limes

Dearly departed New York peer-to-peer filesharing start-up Limewire is close to a settlement with the Recording Industry Association of America, CNET reports, on track to “reimburse” that body for “damages” based on the premise that songs downloaded through the service represented potential sales. “Founder Mark Gorton said he saw most of his biggest competitors cease operating or try to legitimize their services after the U.S. Supreme Court ruled against file-sharing operations like Limewire’s. He conceded that he chose to continue operating despite the court’s decision and the RIAA has shown that he pocketed profits as a result,” Greg Sandoval writes. Read More