Press Release

Earbits Announces Acquisition

Earbits, the streaming music service designed to connect artists and record labels with new fans and customers, is pleased to announce its long talked-about acquisition following a brief shut down in June of 2014. The service, which is focused on breaking new artists and giving consumers a high quality music discovery experience, was offline for just three days after a confidential benefactor would not allow the huge talent and revolutionary platform to disappear. Earbits is excited to announce today that it had been fully acquired by Atlanta-based media company, You42, Inc.

Earbits, backed by top investors Y Combinator, Charles River Ventures, WordPress founder Matt Mullenweg and others, had grown to over 300,000 registered listeners and 13,000 artists across 600 record labels by June 2014. Less than 48 hours after the site went dark, founders Joey Flores and Yotam Rosenbaum received a letter of intent to acquire the company in full and provide the necessary capital to build a competitive streaming music service.
“We knew we’d built something incredible,” said co-founder Joey Flores. “When You42 called, it was surreal. They were well funded, serious about scaling Earbits, and acted immediately to bring us back online.”

Earbits has since opened a new office in Santa Monica and ramped up its reduced crew of two to a robust team of thirteen, with plans to double staff within 12 months. The first iOS and Android releases since the acquisition are slated for October. The company says these all new releases focus on improving the listening experience and bringing its most successful artist tools to mobile.
“We’re super excited about our new iOS and Android apps,” explained Earbits co-founder Yotam Rosenbaum. “We’ve been working hard to make sure our users have the best listening experience possible along with making sure our artists have the best tools available to reach new fans.”

About Earbits

Earbits (acq. You42, Inc.) is streaming music designed to help artists and labels connect with new fans and customers. It is 100% ad, commercial and subscription free, instead offering content owners tools and features designed to connect directly with, and monetize, the listening audience. The company boasts 14,500 artists across 700 record labels, and over 300,000 registered listeners with 500,000 mobile installs.

Original Post at PR Web

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