When Beyond Oblivion crashed late last year, many early reports talked of the company burning through its $87m of funding. As we explained at the time, that was unlikely to be true: the reason the company shut down so abruptly is that investors pulled out without delivering all that promised money. Now All Things Digital has put a number to that. It claims that of the $87m pledged by News Corporation, Wellcome Trust and Allen & Co, Beyond Oblivion only received $32m. The question now is how that money was spent. Stand by for a Beyond Oblivion feature in our first Music Ally report of 2012, which will be sent out later today. We’ll be looking at why the company failed, and what it means for future investment in digital music.

EarPods and phone

Tools: platforms to help you reach new audiences

Tools: Kaiber

In the year or so since its launch, AI startup Kaiber has been making waves,…

Read all Tools >>

Leave a comment

Your email address will not be published. Required fields are marked *