Lala.com, the music streaming service Apple purchased last December, will be shutting down on May 31. Around the time of Apple’s acquisition, it was said the company wanted to use Lala’s technology and streaming expertise to offer a streaming service on iTunes in addition to the its normal purchase and download model. According to the site, Lala users will receive iTunes credit for all money spent purchasing web songs, wallet balances, and unredeemed gift cards. Lala launched in June 2006 as a CD trading service before re-focusing on digital music uploads and streaming the next year. [via Engadget]
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