imeem

imeem was a social media service where users interacted with each other by streaming, uploading and sharing music and music videos. However, it has since been shut down now that MySpace has acquired the service.

The company was founded in 2003 by Dalton Caldwell (ex-VA Linux) and Jan Jannink (formerly of Napster), and many of its core engineering team came from the original Napster file-sharing service. The company takes its name from “meme,” a term coined by author Richard Dawkins to describe the spread of ideas and cultural phenomena.

imeem helped pioneer the free, advertising-supported music model for online music, permitting consumers to legally upload, stream and share music and music playlists for free with the costs supported by advertising. In 2007, imeem became the first-ever online music site to secure licenses from all 4 U.S. major music labels to offer their music catalogues for free streaming and sharing on the web.

The company also created the web’s first embeddable music and video playlists. People could use imeem’s widgets to embed songs and playlists from imeem virtually anywhere on the web, including on their MySpace and Facebook profiles or on their personal blogs.
imeem was based in San Francisco’s South of Market district, with additional offices in New York and Los Angeles. The company’s investors included Morgenthaler Ventures and Warner Music Group.

On December 8, 2009, it was bought out by MySpace Music in a firesale for an undisclosed amount. However, it is stated to have been less than $1 million.

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Source:
http://en.wikipedia.org/wiki/Imeem

- Michelle G. -