Imeem Inc., a Palo Alto, Calif.-based social media network, has acquired Anywhere.FM, a San Francisco-based Web music player and online radio service. No financial terms were disclosed. Imeem has raised around $5 million led by Morgenthaler Ventures, while anywhere.FM had raised some seed capital from individual angels and Y Combinator.
PRESS RELEASE
imeem, the leading social media network, today announced the strategic acquisition of Anywhere.FM, a San Francisco-based web music player and Internet radio service. The acquisition of Anywhere.FM brings valuable music uploading capabilities, a rich web music player, and powerful recommendation features that will enhance the imeem experience and help imeem expand its business. Terms of the deal were not disclosed.
The Anywhere.FM desktop uploader enables users to quickly and easily upload their personal MP3 collections to the Web and stream their favorite artists, songs and playlists from any browser. Consumers can upload individual songs or use Anywhere.FM's uploader to upload their entire iTunes, WinAmp, or Windows Media Player libraries, including personal playlists, song ratings and play counts, with a single click. Users' libraries are then accessible through a full-featured web music player complete with smart playlists, visualizers, and dynamic search. Anywhere.FM has also created a sophisticated “Friend Radio” feature that lets users discover new music by streaming playlists their friends and other users have uploaded. In addition, Anywhere.FM's recommendation engine lets users search for people with similar music tastes.
“Anywhere.FM makes it simple for consumers to bring their music to the Web and discover new artists through recommendations and social connections,” said Dalton Caldwell, founder and CEO of imeem. “That's a great fit with what we do. Combining Anywhere.FM's expertise with the reach and scope of the imeem community creates some truly exciting possibilities, and we're psyched they're joining our team.”
“Since our launch last year, Anywhere.FM has given tens of thousands of consumers the convenience of enjoying their personal music collections from any browser,” said Anywhere.FM co-founder Sachin Rekhi. “Our team will now have the opportunity to continue that vision with imeem, and enhance the ability for imeem's community of over 20 million users to share and discover music and video.”
Anywhere.FM was founded and launched in 2007, and received funding from Y Combinator. Anywhere.FM's three co-founders, Anson Tsai, Lux Chen, and Sachin Rekhi, will join imeem, working from its San Francisco headquarters.
About imeem
imeem is the leading social media network where users create, recommend and discover music, film/video, art, and pop culture media and connect directly with people with similar tastes. By offering innovative media expression tools and social discovery features, including custom music playlists, video channels, photo slideshows and blogs, the imeem community can share their tastes with friends and fans on imeem and across the Web.
imeem is the first social network to partner with all four major labels as well as thousands of indie labels and video providers to offer free, on-demand streaming of all music and video content on an ad-supported basis. Since the launch of its Web-based service www.imeem.com in March 2006, the community has attracted over 20 million unique users each month. imeem was the fastest growing social site in the U.S. in September and October 20071. To learn more, visit http://www.imeem.com.
About Anywhere.FM
Anywhere.FM is a powerful web music player that allows users to upload their music, play it from anywhere, and discover new music through Friend Radio. Anywhere.FM, founded and launched in 2007, is a Y Combinator-funded startup headquartered in San Francisco, CA.
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