A few days ago, Turntable.fm closed its virtual dance halls for good. Founders Billy Chasen and Seth Goldstein captivated music fans by creating a never before seen online platform for fans to share music online. Turntable.fm allowed fans to create virtual rooms in which they could share and find new music by either acting as a DJ and sound selector or by acting as a member of the audience.
Although the site reached over 1 million virtual DJ rooms and played more than 400 million songs, the founders decided to shut down the site to conserve their funding for a new spinoff, Turntable Live. This spinoff will try to combine the turntable fm experience with a live music aspect, which could prove to be a profitable re-appropriation of the company, however only time will tell.
Source: The Verge