Social/live music company Magnifi set to close

Magnifi logo canvasMagnifi, a digital platform for live music discovery, will reportedly close on Aug. 1. The service offered a blend of free audio streaming, listings for live shows, and social interactions. It was originally known as DeliRadio when the company was founded in 2013, then rebranded as Magnifi late last year. It raised $9.35 million during its time in operation. The leaders did not reveal a specific reason for the closure in an email to users.

The past year has seen both the launch and closure of several upstart music companies. Many have tried to unite digital listening with mobile, social, or live music angles. Other shut-downs since the fall include This Is My Jam,, and Tapely. On a larger scale, Rdio announced bankruptcy in November, with Pandora buying up its assets.

Anna Washenko