May 06, 2009

By By Antony Bruno, Denver

-- Kadoink, a company that creates mobile widgets used to promote music and artist-fan interaction, has shut down service two weeks after it was taken over by its primary investor, Hercules Technology growth Capital. The company, which raised $7 million in funding this past January, was unable to meet the financial requirement of a $2.5 million line of credit. Although the service is currently shut down, the company is seeking a buyer, according to the Wall Street Journal. Artists using the service included Death Cab for Cutie, Third Eye Blind and Kottonmouth Kings.

-- EMI Music Canada and Fairmont Hotels & Resorts have joined forces on a branded music service. EMI will provide the music content to a music store housed on the Fairmont Web site, where guests can buy and download music. Members of Fairmont's VIP club can buy at up to 15% discounts. The effort is an expansion of the two companies' existing music relationship, under which EMI provided content for pre-loaded iPods to guests using the on-site fitness facilities.

-- Apple may be in the running to buy Twitter for a potential $700 million. (Valleywag)

-- Imeem reportedly has raised more funding from existing investors. (CNET)

-- The turntable controllers for "Scratch: The Ultimate DJ" may serve double duty as actual, functioning MP3-based turntables as well. (Joystiq)

-- Slyck has an interview with the IFPI's John Kennedy (looks like it may have been an e-mail interview) about the Pirate Bay verdict and next steps. (Slyck)

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