SFX Owned Beatport Aquirehires Listn, Will Shut It Down

To date, know one has built and sustained a popular music based social network. But that is exactly what SFX owned EDM hub Beatport hopes to to with has acquired music based social network Listn. The startup's team will shutter Listn over the next two weeks and then join Beatport. Once there, they will be charged with building a social network that serves Beatport's large community of EDM fans.

The exact details of the deal weren't shared, but Listn founder and CEO Mike Schmidt told Pando that it was a seven-figure deal and that the company's early investors "all made some money."