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September 21, 2021

Dan Runcie: Why Genius sold for less money than it raised?

"Last week, Genius was sold for $80 million in a fire sale to MediaLab.AI, which is less than it raised! It's a disappointing exit for a company once valued near $1 billion, but it's a reminder of the importance of platform dependency" - Trapital's Dan Runcie looks back on the business model of the lyrics site, and gives reasons why it didn't work out.

Google beat back a lawsuit over alleged scraping of song lyrics from lyrics site Genius, according to Hollywood Reporter. Federal judge Margo Brodie in the Eastern District of New York found that while the claims of scraping were credible, the scraping did not constitute a copyright violation, since Genius isn’t the actual copyright holder, and the lawsuit was dismissed as a result.

Lyrics service Genius is suing Google for allegedly copying its song lyrics and using them in search results. Genius is asking for $50 million in damages from Google and its partner LyricFind, the Verge reports. Genius says they caught Google twice - first they placed straight and curved apostrophes within the lyrics of 301 songs […]

Genius Media Group has accused Google of stealing lyrics published on its site to populate its search engine results. Genius has asked Google in 2017 not to use lyrics taken from their platform, they sent a follow-up letter in April. Genius said that using lyrics taken from the platform violates both the company’s terms of […]