Loudeye blinks, sells out to Muze

As the Seattle Post Intelligencer notes today, the Emerald City is minus yet another cash-bleeding dotcom start-up, thanks to a deal over the weekend to sell Loudeye to Muze.

Loudeye made all sorts of clever software that makes digital music and video possible, but the one thing it never made was money.

Per the PI,

“The transaction ‘certainly accelerates our path to profitability,’ [CEO] Mike Brochu said. The company hasn’t had a profitable quarter since its founding, in 1997.”

Yeah, “accelerates” sounds about right…in the sense that previously, the Loudeye spent about a decade standing still and incinerating cash.