Music streaming service Spotify has gone and acquired two different companies tangentially associated with its own business: Cord Project and Soundwave.
Cord Project is perhaps best known for Cord, a tap voice messaging platform for iOS and Android devices including tablets, watches and phones. It was also responsible for several other smaller projects, including one for sharing audio to Twitter — which might be what really interested Spotify in the first place. The acquisition does mean that it’ll be phasing all that stuff out over the next few weeks to work at Spotify on what seems fair to speculate is similar to its previous work.
“Today we’re excited to announce that we’ll be joining Spotify to form the foundation of a team dedicated to exploring new ways to discover and listen to music,” Cord’s announcement of the acquisition states. “We’ll be leveraging what we’ve learned at Cord Project and Spotify’s amazing analytics, data, and music catalog to reinvent how we engage with audio across a number of platforms.”
Soundwave, on the other hand, is essentially known for a social networking app based on music discovery. Once again, Spotify picking it up makes total sense, because of course it would want to improve music discovery. It’s unclear if or when Soundwave will eventually sunset its product, but it’s fairly probable that it’ll be “sooner” rather than “later.”
“The music industry is changing, and its [sic] changing fast,” Soundwave’s acquisition announcement reads. “We think now is the perfect time for Soundwave to join forces with Spotify, the #1 music streaming service in the world and the perfect home for us to continue our mission.”
The details behind how much Spotify actually paid for the two companies hasn’t been disclosed, but the Next Web indicates that Soundwave CEO Brendan O’Driscoll told them “that Soundwave’s founders and investors have smiles on their faces.”
Via: The Next Web
