Online radio startup Earbits (YC Winter 2011) is announcing a seed round of funding today, having snatched up $605K from Y Combinator, Charles River Ventures, Start Fund and former Lala CEO Geoff Ralston. Earbits is unique in that its closest competitor is Pandora from the listener's side but from the musician's side the model is completely different. Founder Joey Flores likens the site to payola 2.0. because come July Earbits plans on taking bids from musicians in order to offer streaming time (a practice that is illegal on normal radio, as well as opportunities to market themselves through the site.
Source: http://feedproxy.google.com/~r/Techcrunch/~3/0V9sgkzD560/
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