Imeem Gobbles Up A Young Startup, Anywhere.FM

After less than a year in operation, the team at Anywhere.FM reached an early payday today when veteran social music service Imeem gobbled them up for an undisclosed sum, most likely in a cash and stock mix. The iTunes-style web music player had raised under $100,000 in financing from Y Combinator and angels, making an early exit likely below $5 million possible. Anywhere.FM with its 60,000 users and over 9 million uploaded songs will continue to exist as is, but the founders will be joining Imeem to complete their earnout and continue work on their iTunes-style music player at Imeem’s San Francisco office. read more