Wisconsin Music Marketplace Startup, Murfie Shuts Down 2

Murfie, a Madison, Wisconsin based startup whose website allowed users to buy, sell and trade music, has shut down. The company announced this on its website

Murfie has ceased operations
The company’s senior debt holders are working together to develop a process in which customer-owned physical media can be retrieved.

If you are a customer with media at Murfie, you will be receiving information by email on how to arrange for the retrieval of your physical media.

Thank you, once again.

The Murfie Team

Members and subscribers are wondering what the shutdown means for them. Murfie’s policy states, “Every CD and vinyl record you store at Murfie HQ is your property. We take that very seriously. In the event Murfie goes out of business, you will get back every CD and vinyl record you own in your current collection.”

Founded in 2011, Murfie set out to create a subscription-based service that enabled members to digitize CDs and vinyl albums and then sell, swap and stream them from a cloud-based platform. Customers would ship their record collections to Murfie for digitization, which were stored at Murfie’s office in Middleton.

In 2012, Murfie was one of 13 startups in TechStars’ Boston cohort. At the time, Murfie entered the program’s Demo Day having already raised a $1.4 million round of funding led by Madison-based DaneVest Tech Fund. It is unclear whether Murfie raised additional financing.