Home › DMW Daily › April 15, 2009

Report: Music Service Provider Passalong to Shut Down

Authored by Mark Hefflinger on April 15, 2009 - 8:35am.
Los Angeles - Passalong Networks, the operator of a range of digital music services, is shutting down, with top executives including founder and CEO Dave Jaworski and senior vice president of corporate development Skip Franklin already departing the company, Digital Music News reported, citing sources close to the situation. Passalong's Speakerheart, OnTour and StoreBlocks units are all reportedly being put up for sale.

"I'm passionate about digital media, and have significant interest and plans in the space," Jaworski told Digital Music News, which confirmed the CEO's departure.

Founded in 2002, Franklin, Tenn.-based Passalong powers digital music services for a range of clients, including the (RED) Wire AIDS charity service, which sources told DMN it will continue to support.

The company had raised around $40 million in financing; it was reported in December that Passalong was looking to raise another $30 million, but that round did not come to fruition.

 

Related Links:
http://www.digitalmusicnews.com/stories/031409passalong/view

http://snipurl.com/fyjgu (DMW previous coverage)

http://www.passalongnetworks.com

Published in DMW Daily, April 15, 2009
tags: Marketing | Music | Moves | PassAlong Networks | Closures | Dave Jaworski |



Comments

lame

Submitted by anonymous (not verified) on May 19, 2009 - 3:12am.
Ok I understand the need to shut down, it is a lame situation, passalong has been a great place to get music, but what about those people that have accounts open with money in them? Will we get it back.

I agree. with no warning

Submitted by anonymous (not verified) on June 3, 2009 - 6:44am.
I agree. with no warning they shut down and we lose our money! they could of put a notice out ahead of time for members so they could use up what was in their accts. I suspect a lawsuit.

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