8tracks Is Shutting Down, Despite $7 Million in Funding,

8tracks Is Shutting Down, Despite $7 Million in Funding,

The founder 8Tracks David Porter has announced in a blog post that the company will cease operations at the end the year.

The company launched back in 2008 as a social media platform that fered user-curated playlists at least eight songs. Playlists were available through both a free and a subscription service.

At the time, the site was positively reviewed by many leading publications. In 2011, Time magazine even named it one the top 50 websites in the world.

During its lifetime, the company reportedly raised around $7 million, with nearly $2 million this coming from . However, it seems that competition from the leading music streaming services, such as Spotify and Apple Music, was too much for them.

“Given 8tracks’ audience size and declining trajectory vis-a-vis Spotify, Apple, Amazon and Google/YouTube,” Porter wrote, “we were unable to raise sufficient funding (or find a good home for the company) to properly invest in product development, both for features that would have capitalized on 8tracks’ unique value proposition in the streaming music ecosystem as well as for features viewed today by most consumers as “must-haves” (such as the aforementioned on-demand licenses that, during our peak years, would have required 10s millions in investment to fund).”

Porter went on to say that, “Without sufficient funding, we couldn’t hire (or retain) the people needed to drive this product innovation; without product innovation, we’ve fallen further behind competing services, reducing our audience and revenues further in a downward spiral.”

The company says that all those who registered an account directly with them will receive an email listing the details their playlists. Those who registered accounts through Facebook or Google will have to email them at and provide their 8tracks user name in order to receive this information.

The service is further providing a “Save playlist to Spotify” that will save most playlist data to the platform.