Update: It seems that Bloom.fm has been give a one-week stay of execution and are in the process of looking for a buyer for the service.
— Bloom.fm (@bloomfm) May 1, 2014
UK music streaming startup Bloom.fm has unexpectedly been shut down after the company’s main investor suddenly pulled the plug on the service.
Originally launched as mFlow, a music download store, the startup then moved into streaming under the name Bloom.fm and on the face of it seemed to be doing quite well, it had amassed over 1 million users in just one year and were making plans to release a web version of the service.
In a short post on the startup’s website said: “We’ll keep this short because we’re pretty shell-shocked.
“It’s game over for Bloom.fm. Our investor, who’s been along for the ride since day one, has unexpectedly pulled our funding.
“It’s come so out of the blue that we don’t have time to find new investment. So, with enormous regret, we have to shut up shop.
“This is a poetically crappy turn of events as our young business was showing real promise. Our apps and web player are looking super-nice and we had 1,158,914 registered users in a little over a year. Yep.
“A massive thanks to everyone that helped us get this far. We’re absolutely gutted. But it’s been a real pleasure.”