Napster creators revealing new project June 5th

Remember Napster? Sure you do. The online music sharing service co-founded by Sean Parker and Shawn Fanning was blamed for almost destroying the music industry until record companies managed to shut it down. Now Parker (who was also an early investor in Facebook) and Fanning are preparing to launch their next big venture.

The duo have been working in secret for a while on a project called Airtime. The website doesn't reveal much about what this company is abut other than it has a "live social video" focus. It has raised money from a number of sources, including Google Ventures, and people in the entertainment industry like Ashton Kutcher, and have also put in money into Airtime.

Today, Airtime put up a countdown clock on its website, with the clock scheduled to run down to zero on June 5th. That also happens to be the same day Parker and Fanning will hold a press event on Airtime in New York City, according to a TechCrunch report.

So what are the Napster team up to now? We are not sure. Will it be as huge as Napster was over 10 years ago? It doesn't seem likely. However, if you want to get in on Airtime's ground floor, you can sign up for beta access at Airtime's website.

Image via Airtime

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