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Troubled SeeqPod Files For Bankruptcy Protection

SeeqPod , the popular "playable media" search service that many music sites use as the foundation for their core offering, has filed a petition for Chapter 11 yesterday with the U.S. Bankruptcy Court of the Northern District of California. The company, which has raised $7 million in venture capital to date from undisclosed investors, is evidently doing this out of fear about the outcome of the multibillion dollar lawsuits it was slapped with by music labels like Warner Music , Capitol Records and EMI. We reported earlier that SeeqPod has become quite the target of the music industry, which went so far as going after developers who merely leveraged the SeeqPod API. They silenced Songbeat and forced Streamzy to put itself up for sale on eBay as a result.
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