Qloud afloat with impressive backing
EmptyDENVER -- Qloud has finally made it official. After more than a year in beta and a three-month trial on Facebook, the social music service has officially gone live and unveiled an impressive who's who of digital music veterans as key investors and board members backing the venture.
First is Steve Case, former founder of America Online, whose Revolution Llc. is the company offering the Qloud service. Jim Bankoff, former head of AOL's online music properties, will serve as Qloud's chairman.
Co-founders include Ted Leonsis, former vice chairman of AOL and chairman of Revolution Money and other former AOL executives Toby Murdock and Mike Lewis.
Additionally, former Yahoo Music general manager Dave Goldberg, former Warner Music Group exective vp strategy and business development Paul Vidich, former EMI global senior vp digital and mobile strategy Tom Ryan, and Island Records founder Chris Blackwell join as investors and board members.
Qloud allows users and their friends to stream their entire iTunes library and playlists from social networking sites. The application has been running on Facebook for three months and, according to the company, has registered 1 million users generating more than 120 million streams.
The company expects to expand to additional social networking and access to other types of music services soon.