Over the weekend, Dennis Mudd stepped down as CEO of Slacker, though he remains on the board.
Dennis does not shy away from big challenges. In 1997 he founded one of the earliest digital music companies, Musicmatch, which operated the popular Musicmatch Jukebox that was eventually sold to Yahoo! for $160 million in 2004.
In 2006 he dove back into the competitive digital music space by launching Slacker, which develops a personalised portable music player.
The company said Mudd wanted to spend more time with his family and had been gradually transitioning much of his daily responsibilities to COO/PresidentJim Cady.
Slacker is a disruptive device that has raised about $70 million in venture funding since its launch from funds that include Centennial Ventures, Rho Ventures, Austin Ventures, Mission Ventures and Sevin Rosen Funds.
With a growing number of digital music options available to consumers, from satellite radio to free online streaming or mobile subscription services, Slacker has faced its share of challenges in the past few years.
In addition, after Apple introduced the iPhone and opened its app store up to developers Sirius, Pandora, and Clear Channel quickly launched streaming music iPhone apps. Slacker has released its own BlackBerry and iPhone apps, but the competition has been rough.
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