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 [...]

Snocap looking for a potential buyer
Snocap was founded by Shawn Fanning who is credited with creating the grand daddy of music sharing software service Napster.
The company provides technology enabling web services to sell music online. However, they are apparently struggling and have laid off most of their employees.
Market sources claim that they are now concentrating [...]