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The now-bankrupted Sellaband has a buyer, at least according to a claim by the company. In a statement posted front-and-center on sellaband.com this afternoon, appointed trustee Paul Schaink communicated (through CEO Johan Vosmeijer) that the acquisition is moving through late-stage details. "The trustee wishes to inform the 'Sellaband community' that, apart from a few technicalities, the completion of a transaction with a potential buyer of the business, is to be expected soon, in order to make a fresh start, safeguarding both the rights of Believers and Artists," Vosmeijer stated. "More news will follow shortly."
The statement is only somewhat reassuring. Just recently, a down-and-out Seeqpod also pointed to a near-term buyer, and hyped-out rumors even surrounded an acquisition by Microsoft. None of that happened, and questions surround the wisdom of purchasing a distressed company with a highly-experimental business model.
The post-bankruptcy situation also raises questions about pending accounts. The Sellaband model allows artists to finance their growth through fan investments, though that leaves lots of escrow accounts in limbo. Earlier today, one former Sellaband business partner told Digital Music News that Sellaband started missing payments long ago, and ultimately failed to meet its obligations.
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