Shawn Fanning's post-Napster endeavor has fared poorly, with layoffs and "For Sale" signs the order of the day.
Valleywag picked up on rumors of layoffs at the company, and that it is now up for sale.
"This explains why we haven't seen Mendelson at many parties lately," Valleywag said of Snocap's other founder, Jordan Mendelson.
The problem with music sales is the paradigm shift taking place in the industry. A band can give away two or three MP3s, and support itself with touring and merchandise sales. They don't need a Snocap to give away music.
Prince did well after handing out about 3 million CDs in England, selling out
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