Summary:

Amazon (NSDQ: AMZN) is acquiring online indie music shop Amie Street and will absorb all of the site’s members and services, the company sai…

Amie Street

Amazon (NSDQ: AMZN) is acquiring online indie music shop Amie Street and will absorb all of the site’s members and services, the company said in a note to subscribers this morning. Financial terms weren’t disclosed. Amie Street has counted Amazon as n early investor and advisor. In a message to its members, as September 22, all AmieStreet.com pages will be forwarded to Amazon.com; users will no longer be able to use AmieStreet.com or any of its services.

Current Amie Street users will get a $5 discount on new purchases once the transfer to Amazon is complete. The discount code is good through December 1. However, Amazon will not recognize any credits that Amie Street users have in their balances after the shift is made, so members are told to spend whatever balance they have in their accounts.

Amazon led Amie Street’s first round funding a little over three years ago, just ahead of when the online retail giant started its own music store. That investment was undisclosed. Last October, Amie Street raised a $3.9 million funding round ed by Deep Fork Capital.

In handing off Amie Street’s online store to Amazon, which use it to buttress its existing download music services, the four-year-old company itself will remain independent. Instead, Amie Street’s founders plan to concentrate on social music streaming service, Songza.com. The streaming service is currently in beta, but already claims about 8 million songs that allows users to create personalized online radio stations. The plan is to make Songza more like Foursquare, with the addition of props, badges, and song check-ins.

By David Kaplan

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