Imeem buys Snocap to get hands on digital fingerprinting tech
Music widgets provider Snocap has been on its uppers for a while now, but it’s finally been put out of its misery, with music social network Imeem buying it for a rumoured price of less than $5 million. If that figure’s correct, it’s something of a bargain for Imeem, given the more than $25 million of investment that Snocap received during its lifetime. Imeem relies on Snocap’s digital fingerprinting technology, which it uses to track songs uploaded to its site in order to share ad revenues with labels and publishers. In short, Imeem has bought Snocap in order to hang onto that technology, rather than see it snapped up by a rival. However, Imeem says it will continue to operate the 110,000 artist stores on MySpace that Snocap set up.
Tags: digital, fingerprinting, imeem, snocap
April 8th, 2008 at 3:36 pm
Imeem, good on em!