Flycode: Another Napster Up for Sale
How much is P2P software worth these days?
Well, we're gonna find out sooner or later. Flycode, the peer-to-peer company founded in part by one of Napster's founders, has spent most of this month steeped in negotiations to sell its assets, according to sources close to the deal.
Last year, Flycode (formerly Applesoup) caused a big splash when they announced their effort to create a Hollywood-friendly Napster. They seemed to be in a position to really make it happen. Flycode's initial players included reputable personalities like Frank Biondi, former head of HBO, and John Valenti, co-founder of Creative Planet and son of Jack Valenti, head of the MPAA. Within a year, they completed two rounds of financing to the tune of millions of dollars. Amazingly, the second round occurred last December, when the seemingly never-ending tech stock slump spooked the hell out of most venture capitalists.
But now, suddenly, Flycode is selling to the highest bidder. How much is it worth? Only time will tell.
Last fall, Centerspan purchased the assets of Scour - yet another P2P firm - for $9m.
Centerspan - www.centerspan.com
Creative Planet - www.creativeplanet.com
Flycode - www.flycode.com
HBO - www.hbo.com
MPAA - www.mpaa.org
Related MusicDish e-Journal Articles:
» CenterSpan Wins Bid for Scour Assets
» Tackling the Issues: Peer-to-Peer & Security - A Look at Flycode, Preview Systems & Vedalabs (2000-11-14)
» Early Napster Founder and Investor Form New Company AppleSoup
- It's The Difference Between Apples and Oranges