Last week, Genius was sold for $80 million in a fire sale to MediaLab.AI Inc. It was sold for $80M, which is less than it raised! It’s a disappointing exit for a company once valued near $1 billion, but it’s a reminder of the importance of platform dependency.
When “annotating the world” goes wrong. In the early 2010s, Rap Genius came out the gates hot with its bro culture image. Hip-hop lyric websites weren’t new, but Genius stood out because of its annotation. People could add context to popular lyrics, which viewers could see with one click of a button. Often, the artist offered that annotation.