Virtual150i Founder Sells Spinpenny Music Portal to Chinese Investors
Spinpenny's Open Format Allowed Us To Sell Music Bundles and Charge Consumers $0.05 Every Time They Sampled A Song.
NEW CANAAN, Conn. - July 31, 2019 - PRLog -- "The one thing I wanted to do is make sure that the people that took this journey with me were fully compensated. And I know my Creative Team woke up the next day, after closing on this deal with the option of never having to work again! When people give you 150% night and day, this is the option they should have!" Stated Vince Charles Allen Moulterie II, Former Owner and Founder of Spinpenny Music Portal.
No Financial Terms was disclosed. All users' information has been transferred to New Entity. Mr. Vince Charles Allen Moulterie II retains full ownership of all Proprietary Technology and Domain Names. Mr. Moulterie II has agreed to refrain from Developing or Leasing his Technology or Assisting a third party in building a music system for a period of 1 year.
More than 400 million downloads were generated, and 83 million Music Bundles (3-CD's) was sold over a 3-year period. No jobs were lost in this transaction. Spinpenny Staff that didn't choose to relocate were given the opportunity to work at Virtual150i.
Building A More Stable Investment Environment
Charles Allen Jr.