London-based streaming songs service Blossom. fm is closing down following the withdrawal of its major financial investment partner, TNT, a Russian tv network. TNT withdrew its financing complying with a business change, shared VentureBeat.
In an article, the Flower. fm team stated the drawback of financing was a surprise which the company has no time at all to locate brand-new financial investment.
We’ll keep this short because we’re pretty shell-shocked.
It’s video game over for Bloom. fm.
Our investor, and’s been along for the flight considering that the first day, has suddenly pulled our financing.
It’s come so unexpectedly that we don’t have time to find new investment. So, with enormous disappointment, we need to stop talking shop.
This is a poetically lousy turn of occasions as our youthful business was showing real guarantee. Our apps and web player are looking super-nice and we had actually 1,158,914 signed up users in a slightly over a year. Yep.
A massive many thanks to every person that assisted us get this much. We’re definitely gutted. However it’s been a real pleasure.
Previously this month, it was reported that Flower. fm had actually been shut out from utilizing Apple’s iAd marketing service to gain new individuals due to the fact that it contended also very closely with Apple’s very own iTunes Radio service, which is readying to launch in the United Kingdom.
It’s unclear whether the iAd obstructing had anything to do with the removal of financing, yet it was likely an impact to the firm no matter.