Cür Music was one of the digital music services that shut down in recent years: having rebranded personal-radio service Raditaz in 2014, its owners raised $9.6m in funding; launched in beta in January 2016 with $2.99-a-month and $6.99-a-month subscription options; agreed to pay $8m in advances to major labels; and then in August 2016 laid off all its staff and ceased operations.
Now it’s coming back, or at least trying to.
“Cür Music is a new music streaming and sharing app. 20+ million songs. No ads. Just $1.99. Coming soon,” explains a teaser page on its website.
A recent financial filing from the company reveals more: a merger with a separate company called Cür Holdings which, if it receives approval from US financial regulator the SEC (and there appears to be a question over this) will attempt to relaunch the service.
The company has already paid labels $2.5m of due advances, while issuing them warrants to buy between them 1.75m shares in Cür Holdings at an exercise price of $1 per share.
“We plan to launch CÜR Music in the second quarter of 2018,” explains the financial filing. At the time of writing, though, Cür Music admits “we have only three full-time regular employees” – its president, CEO and interim CFO Thomas Brophy; its COO and head of product John Egazarian; and its CTO Michael Betts – while facing legal action from some of its former staff over unpaid wages in 2016.
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,…