Low On Cash, Jamendo Looks For Buyer
Digital music startup Jamendo made an impressive and expensive splash a year ago Midem, but now their running out of cash and looking for a buyer. After raising substantial Series A funding in 2007, Jamendo failed in its attempt to find another $2.1 million last year.
Jamendo hosts a community of free, legal music published with Creative Commons licenses. Early last year they opened an online portal where music licenses for film, tv and the web along with streaming background music for stores and restaurants. CEO Laurent Kratz confirmed to TechCrunch Europe that he and original investo Mangrove Capital Partners are looking for a suitor.