Los Angeles-based streaming music service Earbits, which had focused on music discovery and listening to independent artists and labels, has officially shut down, shutting down its service on Monday. According to a post from founder and CEO, Joey Flores, Earbits needed a "lot more capital" to pursue its mission, and that it "bit off more" than the company could chew. Earbits had been founded in 2010. Earbits had been trying to offer up a way to discover new music and artists, offering up artists and labels a way to market their music to new listeners. Earbits said it would offer up a pro-rated refund to those labels and artists.