Ruckus Shutters Campus Music Service; TotalMusic Also ClosingAuthored by Mark Hefflinger on February 9, 2009 - 9:54am.
In a blog post, Jason Herskowitz, a vice president with TotalMusic -- a joint venture between Sony BMG and Universal Music Group -- lamented the demise of the once-promising company. "There are very few private investors or venture capitalists that want to get anywhere near this space right now... and rightfully so considering no one has really figured out how to make any money out of this industry [and its products] that so many people love," Herskowitz wrote. Ruckus had raised nearly $43 million in venture capital since 2004. The company secured partnerships with 80 colleges and universities, and five statewide network systems, and was supporting over 200 higher education institutions.
Related Links: http://snipurl.com/bl3t4 (TechCrunch) http://globallistic.blogspot.com/2009/02/hey-who-tripped-over-that-cord.html http://www.hypebot.com/hypebot/2009/02/totalmusic-ruckus-shut-down.html |
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