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A good technology accelerator can work wonders, as witnessed by YCombinator's swift turnaround of Anywhere.FM. Social media network Imeem Inc. announced Monday that it acquired the young Web music player and Internet radio service for undisclosed terms.

Launched just last year, Anywhere.FM got early funding from seed-stage investment incubator YCombinator. The cachet and assistance provided by the Silicon Valley firm, which typically invests less than $20,000 for stakes of between 2% and 10%, apparently was enough to attract a buyer.

For imeem, the deal will bring music uploading and recommendation capabilities to the social network, which itself was launched only a couple years ago and claims about 20 million unique visitors per month.

Imeem founder and CEO Dalton Caldwell said in a statement: "Combining Anywhere.FM's expertise with the reach and scope of the Imeem community creates some truly exciting possibilities, and we're psyched they're joining our team." - Olaf de Senerpont Domis

See Jan. 28 press release from Imeem
See August 2007 post from Tech Confidential
For more see TechCrunch, paidContent and John Cook's Venture Blog

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