Service-agnostic playlist app Bop.fm has been acquired by LifeLock. The platform will be shutting down on Oct. 31. The app’s founders wrote a blog post to explain the news and thank users for going along for Bop.fm’s three year ride. No financial details of the deal were disclosed.
“Building out a central destination for consumers can be very expensive and require hundreds of millions of dollars in funding, in an industry fraught with monetization concerns,” the founders said. “As we considered the future direction of the company, we debated the tradeoffs between doubling down on a risky endeavor versus aligning ourselves with more promising opportunities that had presented themselves.”
Since LifeLock’s focus is in identity protection services and has little to no crossover with the music industry, it’s unlikely that we’ll see Bop.fm reemerging. The service managed to secure some powerful partnerships in the music business – such as Billboard and Twitter – standing out above some of the other agnostic platforms that have emerged lately.