Napster Said It Raised $3 Billion From a Mystery Investor. But Now the 'Investor' and 'Money' Are Gone

An anonymous reader shared this report from Forbes: On November 20, at approximately 4 p.m. Eastern time, Napster held an online meeting for its shareholders; an estimated 700 of roughly 1,500 including employees, former employees and individual investors tuned in. That's when its CEO John Acunto told everyone he believed that the never-identified big investor - who the company had insisted put in $3.36 billion at a $12 billion valuation in January, which would have made it one of the year&#...