E-Business
Twitter Buys, Closes Music Tracking Service
Twitter, social networking website, has reportedly bought a music tracking start-up, and promptly shut-down the service in the latest of a growing trend for large firms to buy up companies for their technology as opposed to their customer base.
Founded in Australia in 2009, WeAreHunted is a music discovery service that scans internet services to find trending songs and artists. The company recently moved to California, in a move now seen as a preparation for its sale.
In a statement, the company confirmed that it is shutting down its website, and that user accounts will be shut down as well.
Twitter has proven very popular with musicians as a tool to connect with their fans, and Twitters acquisition of a music based service is likely to fuel speculation that it wants to develop services for music industry players.