The problem is, we just don't know where they're going. In a Saturday blog post, the company announced it is "...taking a new direction" and won't be offering their current apps to new users.
SimplifyMedia has been offering free software for computer-to-computer and iPhone-to-computer music sharing over the internet. Using the iPhone app, you could connect to your computer at home and stream albums, playlists or songs without any complicated firewall setups. A newer version of the software also allowed remote access to your iPhoto library.
It also looks like the company is going to slowly sunset current customer accounts but will continue to keep them functioning for at least another 3 months.
The Simplify iPhone app has been removed from the App Store, and the company says new account creation will be disabled soon.
I don't have any idea where the company is headed, but the current product will be missed. SimplifyMedia was offered for Mac, PC and Ubuntu.
[Thanks to Robert for the tip]