I have been watching this company over the last year. According to the article link posted at the bottom of this message, the IPO should happen early July of 99. Looks like the target IPO figure will be set at $14 a share. I do not know what the ticker symbol.
Basically user's can create custom CD-ROMS, picking the songs they want from the company's Web site. During my web visit, I put together a CD of 12 songs. The cost equated to about $20 not including the shipping of $2.95. Very well construsted web page. As expected, there are various methods to search for music. You can hear the music clip online as well.
Competition:
MP3.com Inc
Liquid Audio Inc
search.washingtonpost.com
In Profile
Musicmaker.com
Based: Reston
Business: Sells CDs with custom compilations of songs and downloaded music from the Internet.
1998 sales: $74,000
Start-up losses: $9 million
Principal shareholders: Virgin Holdings Inc., the record company, owns 60 percent; Rho Management Inc., a New York investment firm, owns 10 percent.
Executives: Chairman is Robert P. Bernardi, 46, former CEO of several high-tech companies, including Treev Inc., TransSwitch Corp. and Spectrum Digital Corp.
President is Devarajan S. Puthukarai, 55, former president of Warner Music Media and RCA Direct Marketing.
Vice Chairman is Irwin H. Steinberg, 78, former chairman of PolyGram Records, co-founder of Mercury Records. |
