Snocap music distribution company gets ready for sale

snocap logoSnocap, the Napster-turned-legit music file sharing service, has laid off 54% of its workforce. Snocap was started in 2002 by Napster founder Shawn Fanning, as an attempt to set up a legal music distribution service that charged for music downloads (the Napster label itself was later revived as a legitimate paid music service, also). Initial attempts to move other music sharing sites into their fold as paid distribution sites for Snocap, was not met with much success.

So Snocap changed strategy and set up distribution deals with major partners such as MySpace. But the unshakable Apple and its itunes music service have made it hard for the Snocap service to grow.

Now there are rumors that Snocap is polishing itself up for sale. According to WSJ, Snocap has been courted in recent times by major companies.

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