Former SpinVox CEO Christina Domecq is back in business, and searching for gold, sort of.
She has been named CEO of Phreadz Inc, which, according to corporate databases, is “an exploration-stage corporation” previously in the business of acquiring mining claims and which held a solitary, now-expired right to mine for gold at a site in British Columbia.
Via Thomson Reuters: “On April 27, 2010, Phreadz USA, LLC and Universal Database of Music USA, LLC completed a reverse merger with Phreadz, Inc., formerly Atwood Mining and Minerals Corp.”
Mining’s likely not the real seam this business is tapping. The original Phreadz is actually an attempted social multimedia startup created by former Podcast.com CTO Jonathan Kossmann. Universal Database of Music has been a music-recommendations project developed by audio technologist Jacque Krischer over the last few years.
Kossman and Krischer are presidents of the new-look Phreadz, which has been formed out of the mining company. It’s unclear what it’s setting out to do that may be different from Phreadz’s rather stalled efforts to date. Update: Kossman has gone…
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Domecq is getting a $250,000 salary plus stock and options worth $1.5 million, according to its filing.
SpinVox was an otherwise well-regarded UK voicemail-to-text company that raised over $200 million in investment and struck some deals with carriers and other customers. But it struggled financially last year as scepticism grew about its algorithms, before shareholder complaints prompted a board-level investigation that concluded Domecq’s use of company expenses had effectively created a “current account” between her and it.
It led Domecq to pay back £125,000. SpinVox was acquired by Nuance in December for $102.9 million. Its technology is now being used in Nuance’s own offerings.