Turntable.fm (May, 2011 – March, 2014)
(screenshot taken March 20th, 8:15 am PCT)
“Ultimately, I didn’t heed the lessons of so many failed music startups. It’s an incredibly expensive venture to pursue and a hard industry to work with. We spent more than a quarter of our cash on lawyers, royalties and services related to supporting music. It’s restrictive. We had to shut down our growth because we couldn’t launch internationally. It’s a long road. It took years to get label deals in place and it also took months of engineering time to properly support them (time which could have been spent on product).”
‘Shutting Down,’ by Turntable.fm co-founder Billy Chasen.