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Crowdmix goes into administration

By | Published on Tuesday 12 July 2016


Music-social-media-networking-fan-connection-thingimy-app maker Crowdmix yesterday confirmed to staff that the company was going into administration.

There had been much speculation about the future of the digital start-up in recent weeks following the departure of CEO Ian Roberts last month, ahead of the delayed launch of the firm’s much hyped app.

At the time the company said that it was “currently raising a fourth round of investment which is expected to be completed in the coming days”, though gossipers said that interest amongst those most likely to invest had started to wane.

According to Business Insider, staff at the firm were told yesterday afternoon that a last minute bid to raise emergency funding had failed and that the company was now going into administration. Despite some recent downsizing, it’s thought the company still has about 130 people on the payroll, at least some of whom are reportedly still owed June wages.

The start-up’s owners are seemingly hoping to sell the company as a going concern, but that might involve coming up with a compelling answer to the question: “why does the world need a music-specific social network?” We asked that question to various people connected to the project over the years and never really got an answer.

Though there may be an interest in some of the company’s intellectual property, including the assets of two other digital start-ups it swallowed up, Buddybounce and Music Technology Limited.