Palo Alto, Calif. –, a service that lets users
create and share music playlists online, filed for Chapter 11 bankruptcy
protection on Friday, CNET reported.

"The company expects to
conduct business as usual and emerge from Chapter 11 as quickly as
possible," said in a statement.

The service lets users create
streaming song playlists from tracks available online, from both licensed and
unauthorized sources. was sued by several of the major record
labels for copyright infringement, but eventually settled that litigation and
licensed their repertoire.

Several years ago, former CEO Evan van Natta also left
the company after only five months to take a job as CEO of MySpace.


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