Apple Inc. Buys

In anticipation of the death of MP3s, Apple Inc. has purchased music retailer, an online song-streaming application. Songs played via are of a lower quality than those from Apple's iTunes, but can be purchased at a cheaper price point, typically 69 cents to iTunes' $1.29. has developed an application in which users can also buy the rights to stream songs for an unlimited time on their iPhones for 10 cents each. The application is not yet available to the public. The Silicon Valley-based company launched in 2006 as a CD-trading site, but underwent a makeover in 2008 as a music retailer.