AUCKLAND, NZ (Hypebot) – Tweeting "the music industry hates me," and making many headline writers happy, Kim Dotcom said good bye to Baboom. The high profile, high stakes approach wasn't working and Baboom's CEO says that now they can focus on the Baboom brand rather than the Dotcom brand. Plans are still in the works to launch the much delayed music service in the 4th quarter of 2014.
According to Torrent Freak Kim Dotcom has left the Baboom building and a new stock filing by the company revealed that Dotcom's family trust has sold all of its shares which were apparently his full stake.
Baboom CEO Grant Edmundson says:
"The transaction means Dotcom no longer has any equity or role in Baboom, nor any relationship with the company…Kim is moving on to focus on other projects and both camps wish each other well with future plans."
He also told Torrent Freak:
"In terms of the impact on Baboom, my view is that the Baboom service will now be able to be judged on its own merits rather than being assessed on the brand equity (or otherwise) of its shareholder base."
This will be a huge change for Baboom given that they've been publically defined not only by Dotcom's outsized personality but by his thick history of questionable moves which he can't simply leave behind.
And here's the tweet that launched a thousand headlines:
"Good bye @Baboom. I was holding u back. The music industry hates me. You'll do better without me. Good luck my love."
No word on the fate of that awesome music Dotcom dropped on Baboom to help raise anticipation to a fever pitch.