HP Buys Melodeo for Reported $30-$35M
[Updated and corrected: 2:40 pm] The team behind the nuTsie cloud-based music service, Seattle-based startup Melodeo, has been acquired by Hewlett-Packard, according to a TechCrunch report. The company was reportedly purchased for approximately $30 to $35 million earlier this month, “a source familiar with the deal” told TechCrunch.
Melodeo provides an all-in-one music system that allow users to shop for, download, and listen to music on their mobile phone from anywhere. The company’s vice president of business development is Seattle’s own Dave Dederer, from the local rock group The Presidents of the United States of America. Greg interviewed Dederer prior to Xconomy’s most recent Battle of the Tech Bands showdown between Boston and Seattle back in February. [Correction: 2:35 pm. An earlier version said Dederer was a founding member of Melodeo. He actually joined the company in 2007. The company was founded in 2003.]
[Updated 2:40 pm] Dederer confirmed that Melodeo has been acquired, and referred all detailed questions to an HP spokeswoman.