Imeem, the social media network, announced that it has acquired SNOCAP, the leading technology company for digital rights and content management. This strategic acquisition provides imeem with powerful content identification technology, a comprehensive Digital Registry, and an enhanced team of executive and engineering talent. Financial terms of the deal were not disclosed.
The acquisition also expands the mix of products and services the imeem social network offers to artists and music labels to help them take advantage of new opportunities to market, promote and make money from their music through widgets and applications.
As part of the acquisition, SNOCAP’s chief operating officer, Ali Aydar, is joining imeem as its vice president of operations. Aydar was an early employee and senior executive at both SNOCAP and the original Napster. He brings with him a talented team of engineers and music industry professionals.
SNOCAP was founded by Shawn Fanning, Jordan Mendelson and Ron Conway. The company was backed by WaldenVC, Morgenthaler Ventures and Court Square Ventures.
Originally posted on April 7, 2008 @ 10:55 am
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