Bloom.fm is no more
In a very real life depiction of how fragile a start-up business can be, music streaming app Bloom.fm has gone from 1.1m registered users in the U.K to closure after a key investor pulled out, leaving the promising company with no time to find alternative funding. A blog post expressed the employees’ sadness.
"We’ll keep this short because we’re pretty shell-shocked. It’s game over for Bloom.fm. Our investor, who’s been along for the ride since day one, has unexpectedly pulled our funding. It’s come so out of the blue that we don’t have time to find new investment," explained the post.
"So, with enormous regret, we have to shut up shop. This is a poetically crappy turn of events as our young business was showing real promise. Our apps and web player are looking super-nice and we had 1,158,914 registered users in a little over a year."
The company made headlines recently when Apple banned it from using its iAd mobile advertising network "They stopped us advertising a few weeks ago and we were unclear why. Then we received an email from our marketing agency saying that it was against their policy to advertise competing services," Bloom.fm marketing director Jon Clark told The Guardian at the time.
With a web version f their service in closed beta and expected to launch soon, the news will come as a bitter blow to the start-up streaming company. Bloom’s abrupt exit from the space also opens up even more room for iTunes Radio, which Apple are launching in The U.K after promising starts in Australia and The U.S.