Is Napster co-founder (and Facebook billionaire) Sean Parker about to make a bid for Warner Music? - GoFuckYourself.com

DVTimes · 03-14-2011, 06:51 PM

He co-founded Napster, an online music sharing service that unarguably contributed to the steep decline of mainstream record labels.

But now digital entrepreneur, Sean Parker, is rumoured to be part of a consortium of investors making a bid for Warner Music.

The irony of such a bid will not be lost on the music industry or Parker himself - Warner was part of the consortium that sued Napster into bankruptcy.

According to All Things Digital Parker isn?t part of the formal bid, but aligned with a group led by investors Ron Burkle and Doug Teitelbaum.

The Warner Music Group hired Goldman Sachs to look at a number of options for the company, including selling itself outright, earlier this year.

Owners are expecting to fetch $2.5billion, according to the All Thing Digital report.
Parker helped found Napster in 1999 when he was just 19. He then moved onto address book startup Plaxo and was Facebook's first president before having to leave in 2005 after being arrested for suspected cocaine possession.

An equity stake in the company has made him very rich indeed. Forbes estimates his net worth at $1.6billion.

RMost recently he has invested in and been advising the streaming music service, Spotify.
Spotify has a million paying subscribers and seven million active users in Europe. It is not yet in the U.S. but the company has hinted it will be in the 'coming months'.

Current Warner CEO Edgar Bonfman also described the service from Spotify and other streaming services as 'meaningful in 2011'.

Burkle and Teitlebaum are one of at least five bidders trying to buy all or part of Warner however.

The music label expects to make a decision on its sale in the coming weeks.

http://www.dailymail.co.uk/news/arti...ner-Music.html

webair · 03-14-2011, 06:53 PM

watch the bouncing ball

Young · 03-14-2011, 08:01 PM

This kid Parker has always had the ability to be at the right place at the right time.

Sean Fanning a Boston kid invented Napster. Parker was his online buddy and Fanning brought him in on the deal after all was said and done.

He used the Napster thing to get Plaxo going and eventually weasel his way into Facebook.

HardlinkSells · 03-14-2011, 08:08 PM

I didn't know gfy was a news forum

John-ACWM · 03-15-2011, 03:14 AM

He's one smart guy.

seeandsee · 03-15-2011, 04:44 AM

He is full of cash

03-14-2011, 06:51 PM	#1
DVTimes xxx Industry Role: Join Date: Jun 2003 Location: UK Posts: 31,544	Is Napster co-founder (and Facebook billionaire) Sean Parker about to make a bid for Warner Music? He co-founded Napster, an online music sharing service that unarguably contributed to the steep decline of mainstream record labels. But now digital entrepreneur, Sean Parker, is rumoured to be part of a consortium of investors making a bid for Warner Music. The irony of such a bid will not be lost on the music industry or Parker himself - Warner was part of the consortium that sued Napster into bankruptcy. According to All Things Digital Parker isn?t part of the formal bid, but aligned with a group led by investors Ron Burkle and Doug Teitelbaum. The Warner Music Group hired Goldman Sachs to look at a number of options for the company, including selling itself outright, earlier this year. Owners are expecting to fetch $2.5billion, according to the All Thing Digital report. Parker helped found Napster in 1999 when he was just 19. He then moved onto address book startup Plaxo and was Facebook's first president before having to leave in 2005 after being arrested for suspected cocaine possession. An equity stake in the company has made him very rich indeed. Forbes estimates his net worth at $1.6billion. RMost recently he has invested in and been advising the streaming music service, Spotify. Spotify has a million paying subscribers and seven million active users in Europe. It is not yet in the U.S. but the company has hinted it will be in the 'coming months'. Current Warner CEO Edgar Bonfman also described the service from Spotify and other streaming services as 'meaningful in 2011'. Burkle and Teitlebaum are one of at least five bidders trying to buy all or part of Warner however. The music label expects to make a decision on its sale in the coming weeks. http://www.dailymail.co.uk/news/arti...ner-Music.html __________________ The Affiliate Program

03-14-2011, 06:53 PM	#2
webair Confirmed User Industry Role: Join Date: Feb 2002 Location: NYC, NY Posts: 8,531	watch the bouncing ball __________________ ~ Webair Dedicated Cloud Servers™ ~ WEBAIR VSYS™ Virtual Hosting Platform ~ Superior CDN Network ~ ~ Managed Dedicated hosting Specialists ~ DISCOUNT DOMAIN NAMES! ~ WEBAIR FUSION IO MANAGED CLOUD SERVERS! ~ *ICQ:* 243116321 - *TWITTER* - @WEBAIRINC - E-Mail: [email protected]

03-14-2011, 08:01 PM	#3
Young Bland for life Industry Role: Join Date: Nov 2004 Posts: 10,468	This kid Parker has always had the ability to be at the right place at the right time. Sean Fanning a Boston kid invented Napster. Parker was his online buddy and Fanning brought him in on the deal after all was said and done. He used the Napster thing to get Plaxo going and eventually weasel his way into Facebook. __________________ ★★★

03-15-2011, 03:14 AM	#5
John-ACWM Work Work Work Industry Role: Join Date: Nov 2008 Location: EU Posts: 20,060	He's one smart guy. __________________ Video Chat Forum

03-15-2011, 04:44 AM	#6
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	He is full of cash __________________ BUY MY SIG - 50$/Year Contact here

03-14-2011, 08:08 PM	#4
HardlinkSells Confirmed User Industry Role: Join Date: Nov 2010 Posts: 991	I didn't know gfy was a news forum