Valleywag
Finally, Napster creator Shawn Fanning will make a little bank. After Napster went bankrupt and he sold Snocap to Imeem for not much at all, Fanning and cofounder Jon Baudanza have sold social network startup Rupture to Electronic Arts for $30 million. The best part: Fanning and Baudanza did it without launching a product out of beta. All Rupture ever built was a still-in-beta network for World of Warcraft gamers. Investors cashing in on the Volkswagen pitchman's payday (see video) include Ron Conway, Joi Ito, Reid Hoffman, and Baseline Ventures.
Shawn Fanning might never have to pitch Volkswagens again
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8:40 AM on Fri May 9 2008
By Nicholas Carlson
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2 comments
Comments
You are under reporting the value of the sale, and under estimating the value of the fantastic software product Shawn built, but hey we all learned from napster never to let the facts get in the way of a good story!
john
@Fanning: Tell me what you've heard?
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