Napster Mulls Putting Itself on The Block

By Geoff Duncan Published September 19, 2006

My, how the world turns. Former music-sharing badboy cum legitimate music download service Napster announced today that it has retained the services of UBS Investment Bank. The reason: to assist the board and company management in evaluating “recent third party interest” in acquiring the company and/or establishing strategic partnerships.

“Napster is in a strong position to continue aggressively building our business as an independent company and we are pleased to also have the opportunity to thoughtfully examine potential combinations that may further enhance Napster’s unique strategic and brand position in the center of digital media,” said Chris Gorog, Napster Chairman and CEO in a statement. “Our goal is to enhance shareholder value which could potentially lead to a new strategic partnership or the sale of the company but in any event our primary focus will remain on growing Napster.”

The company emphasized there are no timetables for its evaluation of possible offers, and it is not guaranteeing that the evaluation process will result in any transaction at all: Napster could well continue to go it alone. According to Napster CFO Nand Gangwani, the company has about $97 million in the bank as of the end of its first fiscal quarter and boasts annual revenues over $100 million. Long languishing on the subscriber front, the company now says its service have more than half a million subscribers (down from over 600,000 in the prior quarter), but is seeing significant growth in its mobile business. The company will be launching service shortly in Japan. However, its financial numbers and subscriber base make the former shooting star of the digital music scene distinctly toward the back of the pack of music services; of course, everyone is at the back of the pack compared to the success of Apple’s iTunes, and everyone’s also holding their breath to see what happens with Microsoft’s iPod-challenging Zune.

Potential suitors for Napster could include cable companies and mobile phone operators seeking at add or enhance digital music offerings via data services.

Former Digital Trends Contributor

Geoff Duncan writes, programs, edits, plays music, and delights in making software misbehave. He's probably the only member…

Smart Home

Goodpapa is a self-sanitizing toilet brush that cleans itself with UV-C light

good-papa-toilet-brush

Think about the last time you cleaned your toilet. On a scale of 1 to 10, how afraid were you of touching the toilet brush? For a lot of people, cleaning the toilet brush consists of dumping bleach on it and rinsing it by flushing the toilet several times. This isn’t a good way to clean it, nor is it totally sanitary. Good Papa hopes to provide a better solution with the world’s first self-sanitizing toilet brush.

After cleaning the toilet, the Good Papa brush goes back into its storage container where UV light bombards the bristles from all sides, killing any lingering bacteria on the brush. According to Good Papa, the UV-C ray disinfection process kills 99.9% of bacteria within 120 seconds. The container is lifted slightly off the ground so that any drips fall through, and air ventilation ensures the brush dries and doesn’t promote further bacterial growth.

Smart Home

The case for putting a voice assistant in every device

Ecobee security products on a white platform.

As smart home technology has progressed over the last five years, the interconnectedness of devices has been the central draw. The ability to tie your household lights to your front door, or to connect a security system to sirens throughout the home, appeals to people due to the convenience and peace of mind it can provide.

Smart assistants have been the major development, however. The birth and rise of Amazon’s Alexa and Google Assistant has played a critical role in the development of smart technology. Despite the controversy these technologies generated, particularly surrounding privacy implications, more and more devices enter the market with built-in voice assistants.

Smart Home

Eve MotionBlinds Upgrade Kit and Blinds Collection join the Matter lineup

The Eve MotionBlinds Upgrade Kit being installed.

Eve is a prominent name in the smart home world, with the company responsible for a variety of devices covering everything from smart plugs and security cameras to smart light switches and motion sensors. Its catalog is growing even more enticing today, with the Eve Blinds Collection and MotionBlinds Upgrade Kit gaining Matter support.

The MotionBlinds Upgrade Kit will likely appeal to more customers, as it costs just $200 and works with most existing setups. Installation is as simple as removing your shades, placing the MotionBlinds Upgrade Kit through the roller rod, then reinstalling the unit on your windows. Blinds with a roller between 1.5 inches and 2.0 inches are compatible with the upgrade kit.