HITS Daily Double

MOG considering sale

GETTING MIGHTY CROWDED: MOG is exploring a sale as it also looks for fresh funding, even as the company continues to grow and hire, the N.Y. Post reports. Declining to comment specifically on a sale, MOG said it is involved in a number of talks all the time as it “explores strategies in the best interest of investors and shareholders.” Several industry sources questioned what MOG would offer a potential buyer, considering it doesn’t own all of its back-end technology, and its music licenses with labels aren’t transferrable. Still, MOG has developed a stylish, user-friendly experience and advanced recommendation technology. It also has a growing advertising business. The sub service competes with Spotify, Rhapsody and Rdio, among others, and the space is primed for consolidation, according to industry insiders. Nonetheless, since Facebook’s music-sharing tools launched in September, MOG has reached more than 600k users with its free-tier service, and is adding about 5k a day, a source with knowledge of the numbers said yesterday. (2/29a)