Social.FM helped users find new music through their social network, in a similar way to Western Australian startup Scouta. User profiles included a “DJ Rank” that allocated preference based on the number of hours spent listening to particular artists.

I last covered the company in October when it announced a comprehensive deal with Microsoft. A deal that was said to be “extremely fun-to-use for Windows Mobile customers” included Microsoft offering a free lifetime subscription to Social.FM for all Microsoft employees worldwide. Under the deal Social.FM joined the Microsoft Mobile2Market Program which promotes “Designed for Windows Mobile” logo-certified applications for Windows Mobile-based Smartphones and Pocket PCs to mobile operators, e-tailers, retailers and consumers.

Obviously Microsoft and $5 million in VC wasn’t enough to push Social.fm to profitability. No word yet on what will happen with the assets for the site, but the domain name itself should be fairly popular.

Related posts:

1. Microsoft and the Business of the Social Media Web
2. Microsoft Develops Corporate Social Networking Tool
3. Windows Marketplace Shows Up One Day Early For AT&T Pure Users