eCommerce - Wednesday, May 16, 2007
DRM-free Music Marketplace For Indies, mTraks, Takes Angel Funding
San Diego-based music marketplace mTraks has launched and has raised $550K from a consortium of private angel investors and is represented by Wilson, Sonsini, Goodrich & Rosati.
The startup is selling music by both individual track downloads and a subscription-based model $10 p/mo. The company says it carries 6,000 independent record labels and 750K songs. The company was founded 2 years ago by Dey Martin owner or indie record label Naked Jain Records.
Unfortunately, mTraks announcement timing was poor as Amazon today launched DRM-free music purchases with a broader selection and including EMI.
We like Indie Music, but don't recognize any of these bands
Read - release
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