Founded by Michael Robertson and Greg Flores promoting MP3 via free authorized songs, sold 1st MP3 player, took public, sold to Universal

Founded in 1997 by Michael Roberston and Greg Flores as a free, legal music-sharing website. The site was popular with upcoming and independent musicians and bands.

It was acquired by Vivendi Universal on May 20th, 2001 in a $372 million cash-and-stock deal.

Read more on Wikipedia.

Founders:  Greg Flores, Matt Plummer, Michael Robertson, Sander van Zoest