bought by CBS

CBS has purchased for $280 million. Congratulations to the team, I’m sure they’ve put in a lot of work to, so they sure deserve a nice payout.

It leaves me concerned that will go downhill and turn into an uninteresting commercialised “cash cow”, but the blog post states:

This deal with CBS gives us a chance to really make shine, and gives us more flexibility than other funding options would […..]. CBS understands the vision, the importance we place on putting the listener in charge, the vibrant and vocal community, the obsession with music stats, and our determination to offer every song ever recorded. […..]
The team stays put in London, we’ll grow the company some more here.
We will continue to execute our world domination plans – our focus is still music and the surrounding ecosystem. The founders (myself included) are still at the helm.

See also:

Post by Jeff Cummings (another user) “What does CBS want with”

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