London - Wippit, an eight-year-old firm that launched an early, legal peer-to-peer music service, has shut down, Distorted Loop reports. "Wippit has closed. After eight years of pushing the digital boundaries, Wippit can no longer compete in the current market climate. Thank you to everyone that has supported us over the years and apologies to those that will miss us," a Wippit spokesperson told Distorted Loop.

The company’s founder and CEO, Paul Myers, left Wippit last year.

The Wippit service, launched before the first iPod was introduced, offered unlimited downloads for a fixed monthly fee, and eventually managed to secure licensed from EMI and Warner Music.

The service claimed some 300,000 customers.

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(Distorted-Loop)

http://www.wippit.com