Personalized music playlist app Playground.fm has reportedly been bought by Jawbone, a manufacturer of wireless speakers and wearable tech. Playground.fm, which had been funded by an $865,000 seed round, was reportedly in the midst of a new funding round when Jawbone made an offer.
Playground.fm uses Facebook and Spotify data to create a personalized music stream. No details of the deal have leaked, but sources tell TechCrunch that "that the team and investors were happy and that it was over eight figures."
The app was created by music tech veterans including Mehul Trivedi, the original iOS audio engineer at Apple, ex-Atlantic Records DJ Austin Soldner and Vivek Agrawal, who as Topspin's Product and Business Development head. They are expected to now move to Jawbone.
That company's most successful product is a line of Jawbone wireless programmable speakers. One likely reason for the purchase could be to utilize the Playground.fm team and tech to create a streaming music service to embedded in each speaker. "Buy A Jawbone, Get Free Music For Life."