Sad news on Bloom.fm’s blog
We’ll keep this short because we’re pretty shell-shocked.
It’s game over for Bloom.fm.
Our investor, who’s been along for the ride since day one, has unexpectedly pulled our funding.
It’s come so out of the blue that we don’t have time to find new investment. So, with enormous regret, we have to shut up shop.
This is a poetically crappy turn of events as our young business was showing real promise. Our apps and web player are looking super-nice and we had 1,158,914 registered users in a little over a year. Yep.
A massive thanks to everyone that helped us get this far. We’re absolutely gutted. But it’s been a real pleasure.
A later blog post states that the application will remain running for a few days while they make last ditch attempts to find a buyer.
Coming so soon after the demise of last.fm’s streaming radio, it does make you question the viability of legal online streaming services. Are the labels and collection agencies being too greedy when it comes to licencing? Or do they want startups like Bloom to fail so as not to cannibalise download sales?
Update: In an interview today, Bloom’s Oleg Formenko suggests that all may not be lost, and there are a number of potential buyers in the frame,