When I spoke to a Mercora founder a couple years ago, I didn't understand the start-up's vision and business model. Lack of clarity may have been its fatal flaw.
Formerly known as Mercora, the site couldn't keep up with bigger social music services. It has closed its doors after raising $5 million in venture funding.
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Rusty Rueff says laying off 31 employees, or 54 percent of company's staff, was necessary to attract potential buyers.
The Internet radio-cum-smart phone music streaming service reinvents self with social-media-friendly moniker.