Music App Crowdmix Bought by Property Billionaire

The company went into administration in July after it was unable to pay its creditors, and wages also went unpaid. It was auctioned off to the highest bidder, which, according to Business Insider, is a company controlled by Nick Candy.

That means that Candy, who was Crowdmix's main investor, is now totally in control of the music app. He invested over £8 million in the company, and internal meetings were regularly held inside his own offices.

Crowdmix fell into administration after spending money on parties, flights, and consultants. It also failed to launch its app, only managing to release an invite-only version before it collapsed.

The company wanted to let users listen to music directly using embedded music players in its app. Users could share tracks, comment, and then see charts change to reflect their listening patterns.