It seems odd—Bandcamp was basically a small company that could have chugged along with small but non-zero profits indefinitely.
Epic did nothing with them, and now they are being sold to a company that will almost certainly just destroy their value.
Why? This is dumb. I can see why Bandcamp’s owners would sell, but no rational buyer would buy Bandcamp, it is a company that is only valuable because of the goodwill that it has. Their niche is very-online music enthusiasts who are into the community feeling. We’re going to notice and leave as soon as the cash-in change happens.
Why didn’t Epic and this other company whoever they are just light some little piles of money on fire instead. At least they could have warmed their feet.
The narrative for why Epic did it is believed to be that it was an arrow in the "Apple is a monopoly" quiver. Epic would build a music-buying iOS App, and then complain to the government that Apple demands 30% of the revenue.
Epic did nothing with them, and now they are being sold to a company that will almost certainly just destroy their value.
Why? This is dumb. I can see why Bandcamp’s owners would sell, but no rational buyer would buy Bandcamp, it is a company that is only valuable because of the goodwill that it has. Their niche is very-online music enthusiasts who are into the community feeling. We’re going to notice and leave as soon as the cash-in change happens.
Why didn’t Epic and this other company whoever they are just light some little piles of money on fire instead. At least they could have warmed their feet.