ReDigi Raises $535,000 For Used MP3 Store
Cambridge,MA based startup ReDigi has raised $535,000 from 21 investors to operate a used digital music download store according to an SEC filing. When we've written about ReDigi previously, Hypebot readers, including at least one music industry attorney, expressed healthy skepticism about the legality of selling used downloads.
Despite ReDigi's detailed explanation, I remain unconvinced, as do others in the music industry. Apparently,at least 21 investors are willing to find out. Hopefully, the bulk of this investment round are dedicated to the ReDigi legal defense fund.