Bankrupt and yet to launch music tech startup Crowdmix had hit the deadpool. Now, a controversial billionaire real estate tycoon has come to the rescue.
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Bankrupt social music startup Crowdmix has been sold to Nick Candy, a billionaire real estate tycoon who was also its main investor. Candy had previously invested more than $10 million of the $18 million that the still-in-beta London based company had blown through prior to going belly up.
Sources inside Crowdmix tell Business Insider that the staff have been notified that the buyer is 52 Grosvenor Street Limited, a company owned by Candy Ventures SARL. Candy is half of the Candy brothers, property investors who live between London, Beverley Hills, and Monaco.
They brothers have often been criticized for avoiding taxation. Nick’s brother Christian Candy once declared, “I don’t pay tax. I am a tax exile” during a game of Monopoly with a reporter for The Financial Times.