Imeem Acquires Snocap To Help With Music Service

Boston (dbTechno) - The social media network Imeem has acquired none other music technology company Snocap. The acquisition will allow Imeem to use their technology, including the ability to identify tracks uploaded by users, on their social media network.

Imeem is home to more than 24 million visitors and is the third-largest social-networking site in the U.S.

In the past, Imeem has used the Snocap technology to help ID music tracks users upload. They have also used their technology to manage payments made to artists and labels, as well as streaming of music.

Snocap has over 7 million songs in its digital registry, a very impressive number.

Imeem founder and CEO Dalton Caldwell stated “The Snocap team built a great technology platform that will be useful to Imeem as we continue to grow. Together, we’ll build on that work in the coming months, and give labels and independent artists new ways to promote and sell their music through Imeem, MySpace, and anywhere on the Web.”

The CEO of Snocap Rusty Rueff stated the companies have the same goals in mind, so the deal works well.

No financial information on the deal was disclosed.