AfterDawn: Tech news

UCLA invests in Napster

Written by Jari Ketola @ 04 Nov 2000 14:30

Guided by Silicon Valley venture investor Ron Conway, the University of California at Los Angeles made a $25,000 investment in Napster in May.
The investment might turn very profitable indeed, since after striking a deal with BMG earlier this week, Napster is very likely to go public. Napster's huge existing user base should attract quite a lot of attention to the IPO.

Other known holders of Napster stock are the band Limp Bizkit, who acquired rights to 447,000 shares of Napster stock when the company sponsored their tour last summer.


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