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Business News Digital
Bids for Crowdmix due in today
By Andy Malt | Published on Thursday 21 July 2016
Bids to take Crowdmix on as a going concern are due in today, after the company went into administration earlier this month.
As previously reported, following the departure of CEO Ian Roberts, staff reportedly not being paid on time or at all, and a failed attempt to raise more funding, the music-focussed social network called in the administrators just over two weeks ago. All before the company’s app was properly launched – it having been available for invite-only accounts since May.
The sale is being managed by Lambert Smith Hampton, according to Music Week. LSH Machinery & Business Assets Director Paul Proctor says: “This sale provides a unique opportunity to acquire an exciting and fast growing social media brand, which benefits from a growing fan base and a highly talented pool of employees. By marketing the companies and their assets to potential buyers we hope to not only secure a good result for our client, but safeguard Crowdmix’s employees and ensure the group fulfils its undoubted potential”.
Yeah, so if you think that a music-focussed social network is not only a thing that the world needs, but a thing that you would like to own, LSH wants your bid in by 5pm today.
And if you are dithering between buying this failed digital music business or that other failed digital music business Omnifone – also in administration – well, the rumour that Apple is buying the latter has ramped up somewhat this week.
Though so has the counter-rumour that – actually – having considered a purchase, Apple has decided not to buy the digital distribution and data business. But whatever, no one wants to be bidding against Apple. So Crowdmix it is! Good luck with that.
