Goodbye, SpiralFrog, we hardly knew ye. Actually, we knew SpiralFrog fairly well, courtesy of the public filings the cash-burning, privately held startup provided throughout 2007. And SpiralFrog isn’t going away. It’s just going to stop making those public filings.
Why? If you have to ask, you haven’t SpiralFrog’s financials, which are brutal. Why report at all, then? Because the company’s original investors demanded it, says SpiralFrog PR rep Jocelyn Johnson. Jocelyn tells us said original investors are still on board, but now want to “keep competitive information confidential and reduces Sarbanes Oxley compliance and administrative costs.” Fair enough.
Unfortunately, this means the remaining insight we’ll have into SpiralFrog’s business, and by extension, the ad-supported music model in general, has vanished.
In its place, we’re only getting nonsensical press releases like the one the company issued last week, when it claimed to be the “third largest legal music download site.” Luckily we don’t have to explain how ridiculous this is, because CNET’s Greg Sandoval has done a fine job.
See Also: SpiralFrog: Still Alive
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