Billboard reports “Crowdmix, the social music startup that at one point was flush with venture capital funding, had 160 employees and offices in London and Los Angeles — but still no launched app — has informed its staff that the company will be going into administration and winding down operations.

Business Insider reports that the company had sought an emergency infusion of funding over the weekend in order to continue, but the deal fell through. It has raised over £14 million ($18.5 million) in venture capital funding, though earlier reports put that number much higher. The company currently has 130 employees, whose June wages have reportedly been delayed.” Read More