Turntable.fm Shutting Down

Turntable.fm Shutting Down
Today, "virtual DJ" site Turntable.fm announced that it will be shutting down, as Techcrunch points out. The company will instead focus on a new venture, Turntable Live, which will be"an interactive way to hold concerts online." 
As "Team Turntable" elaborated on its blog:
As much as we all love turntable.fm, we have decided to shut it down to fully concentrate on the Live experience. It was a tough decision to make because we love this community so much, but the cost of running a music service has been too expensive and we can’t outpace it with our efforts to monetize it and cut costs. If we also want to give Turntable Live a real shot, we need to fully focus on it.
The good news is that you'll get a chance for one last virtual DJ hurrah: Turntable.fm is organizing a "last day party" that will take place on December 2. 
Turntable.fm was founded in 2011 and gained popularity steadily that year. It ran into legal troubles over copyright, but eventually signed deals with all of the major labels. Kanye West and Lady Gaga were rumored to be investors at one point.


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