Layoffs at Snocap Music Buying Service
posted 8:23 pm Fri October 12, 2007 - LOS ANGELES
Snocap Inc., a developer of technology for buying music downloads on MySpace.com, has laid off more than half its work force so it can focus on a strategy to sell the company.The cuts pared down the San Francisco-based company's staff from 57 employees to 26. Snocap CEO Rusty Rueff says management has determined the best course for the company is to be part of a larger entity.
Rueff says the firm has already drawn interest from several companies.
Shawn Fanning, the creator of the Napster file-sharing software, was a founder of Snocap.
Written By ALEX VEIGA
Rueff says the firm has already drawn interest from several companies.
Shawn Fanning, the creator of the Napster file-sharing software, was a founder of Snocap.Written By ALEX VEIGA
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