One of the big brains behind the MP3 codec is now investing in a European dance download store, according to details surfacing Wednesday. The destination, DJTunes, offers 320kbps MP3s across house, techno, trance and other electronica subgenres. German audio engineer Karlheinz Brandenburg is part of an investment consortium that includes bm-t, and was also part of a seed round in 2006.
Now, things enter a more advanced stage. "With our renowned partners, we can accelerate our growth and focus on new products and markets," said DJTunes cofounder and chief executive Timo Becker. The company allows deejays to upload and sell mixes, and the site also offers label content. DJTunes currently boasts a catalog of roughly 300,000 tracks.
On the roadmap, the company is now planning the development of a hip-hop companion site, one that will emerge in the second quarter of 2009. Brandenberg currently manages the licensing of the MP3 format through the Fraunhofer Institute for Digital Media Technology.

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