This is unlikely to end well for ReDigi. The MP3-reselling store has taken on just over $760k of debt from 15 issuers in the US and abroad, as it fights a costly legal battle with EMI. Digital Music News published the SEC filing revealing the amount, which is most definitely debt rather than venture financing. EMI sued ReDigi for copyright infringement earlier this year (Bulletin, 9-Jan-12) for its plans to help digital music owners resell their files. The case continues, but whatever the outcome, how can the super-slim margins involved in ReDigi’s business help it pay off these debts, let alone turn a profit?
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Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…