Streaming music service Grooveshark has closed down as part of a settlement with major record companies that had sued it for many years for copyright infringement.

The music service, which started in 2006, is ceasing operations immediately and will erase all the copyrighted works of the record companies, besides surrendering ownership of the website, mobile apps and intellectual property, Grooveshark said on its website on Thursday.

“….we made very serious mistakes. We failed to secure licenses from rights holders for the vast amount of music on the service,” Grooveshark wrote in the post on its website.

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