Social Network imeem Buys Music Distributor, SNOCAP

Posted Apr 8, 2008

“imeem shares SNOCAP’s focus on enabling artists to promote their music in new ways,” stated CEO of imeem, Rusty Rueff.

Music streaming company, imeem has announced recently that they have acquired SNOCAP, a Digital Rights Management company started by Shawn “Napster” Fanning.  SNOCAP owns their own digital registry platform that allows independent artists to control their music distribution.  SNOCAP has over 7 million songs in their digital registry.

Financial details were undisclosed.

imeem spent the past year ramping up advertisements and partnerships.  In 2007, imeem made deals with Universal, EMI, Warner Brothers, and Sony.  While SNOCAP has been MySpace’s partner for spreading independent music.  Through the acquisition the COO of SNOCAP, Ali Aydar will be joining imeem as VP of Operations.

Information Source:
[1] MarketingVOX: Music Streaming Service imeem Buys Indie DRM Firm SNOCAP