The Internet Underground Music Archive, quite possibly the oldest music sharing site on the web, is facing severe financial trouble, and may be forced to shut down.
IUMA began in 1993, founded by a group of students who used it to promote first their own, then other rock bands. It brought many bands to the attention of major record labels, but now has had to stop taking new music, and has halted other programs.
"Severe cutbacks in funding from EMusic in early January have made it impossible to maintain the quality and consistency of many IUMA services," wrote the founder. He said that they are running out of time to find a new partner.