Loudeye, the firm run by a Microsoft "prodigy" that threw a entire block party for a self-congratulatory fest when it raised $72 million, before getting another $48 million from Microsoft, and then $25 million from a 2004 stock sale and then another $8.5 million from a recent stock sale, and who knows what other fundings inbetween that I've missed, meets all our expectations this week. That is, it sells substantially all its assets for $11 million to Muze, Inc.
I'm going to use this occasion to introduce a new concept. The "Cuban Overlap Failure Index." (COFI). The COFI number for a failed firm is the number of Google hits that firm's name produces when "Mark Cuban" is added to the search term. Loudeye's COFI: 221. I'm currently testing the "Kawasaki Overlap Failure Index" (KOFI), but no one spells Guy's name right so it is probably less effective. Still, Loudeye's KOFI: 83.
