MusicMate Throws Digital Music Startup Jamendo A Lifeline

Back in January, TechCrunch Europe broke the news that Luxembourg-based digital music startup Jamendo was running out of money fast and looking for an exit. Three months later, the company is announcing that European music broadcasting and technology company MusicMatic has purchased the entire stake investor Mangrove Capital Partners held in the startup. It's unclear exactly how big Mangrove's piece of the pie was, but I gather they were a majority shareholder in the company.