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dSounds.com is For Sale

Loudeye takes $25.2M in funding

Loudeye, the company responsible for providing some of the digital music stores with the backbone to sell digital music, has just secured financing from institutional investors. Loudeye is also the parent company for OD2 who also is responsible for some of the back ends of digital music stores in Europe.

LoudeyeÕs finances have been across the board in the recent past. It bought OD2 in June of 2004 for $40.5M. In Q3 revenues were just $5.1 million for the company and that was primarily due from income generated by OD2. Loudeye is anticipation in Q4 that it will make revenues around $5.5 million however it is expecting to loose between $4.8 to 5.2 million from operation.

For the full story:
The Register - Institutions pour $25.2m into digital music firm