Imeem acquiring Snocap

Social media service Imeem has announced that they are now acquiring Snocap.

Imeem focuses on providing ad-supported music and video content while Snocap is essentially a music-licensing company which was founded by the creator of Napster Shawn Fanning.

The two companies have not disclosed the financial aspects of this acquisition deal.

Imeem has already been using the technologies provided by Snocap to identify files which are uploaded to their servers by their users.

Imeem founder and CEO Dalton Caldwell spoke about this acquisition: “The Snocap team built a great technology platform that will be useful to Imeem as we continue to grow. Together we’ll build on that work in the coming months, and give labels and independent artists new ways to promote and sell their music through Imeem, MySpace and anywhere on the web.”

Checkout: Imeem | Snocap

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