The ongoing saga of Kim Dotcom's attempt to launch a new music service continues with a search for funding for Baboom. A "Limited Pre-IPO" is offering shares to "Sophisticated Investors only" in an attempt to raise $4.5 million. That offer closes Friday. The plan is to launch the service and to go public on the Australian stock exchange by the end of the year. Baboom will be dependent on indie music and "friendly major artists" and, though they're claiming strong indie support, one has to wonder at the prospects of such a company that identifies its competitors as Pandora, Spotify...

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