Stereomood failure

Stereomood

Music platform that provided mood-based song listings

Description

Stereomood was an online platform for streaming music which instead of being based on genre or musical interest, it categorized and streamed songs according to the users’ mood. Users could hear and create their own playlist as well as share music with other members depending on how they felt at any particular time.

Stats

Category
Music
Country
Italy
Started
In 2009
Closed
By 2015
Number of Founders
Four
Name of Founders
Daniele Novaga, Eleonora Viviani, Giovanni Ferron, Maurizio Pratici
Number of Employees
Between 11 And 50
Number of Funding Rounds
1
Total Funding Amount
No Data
Number of Investors
1
Precise Cause of Failure
Acquisition Flu
Business Outcome
Acquired

Cause of Failure

Stereomood seems to cease operation towards the end of 2014 and their last tweet and Medium post was in February 2015. In the post the team announced that after 6 years of operation they were no longer involved with the the platform nor its management. It seems that the company has been acquired by some party that decided to not continue its business. Effectively, the only strategy that could have realistically turned out to be profitable for Stereomood was acquisition as they weren’t able to make profit in any other way since companies such as Spotify already ruled the market.

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