Softbank, Google and AOL all exited the music recommendation app after it was bought by online radio service Rhapsody for an undisclosed sum.
Music streaming service Rhapsody has acquired Softbank-backed music recommendation app developer Schematic Labs, according to a blog post on Schematic Labs’ website yesterday.
Founded in 2010, US-based Schematic Labs is the creator of SoundTracking, an app that enables users to post recommendations of songs to each other with links to the songs attached.
Softbank Capital, the corporate venturing arm of telecommunications company Softbank, Accel Partners and True Ventures invested $4.75m in Schematic in 2011.
The corporate venture capital units of…
