Spotify Acquries Social Apps Soundwave, Cord Project
In its drive to compete, Spotify is constantly iterating and adding new features. Usually that's been done in-house or via major acquisitions like The Echo Nest. But now they've taken a different tact, acquiring two social music apps.
Spotify has acquried two social music apps Soundwave and Chord Project
The Soundwave app, which has been downloaded 1.5 million times, lets users explore music in private groups and see what others are playing nearby. While details of the aquistion were not shared, Soundwave had raised $2.9 million from since launching in 2012 from investors like Mark Cuban and ACT Venture Capital.
The Cord Project deal may be a bit more an acquire/hire. The app lets users send short voice messages to privately, to a small group or to all Cord Project users. But Spotify has other plans for the Cord team. “We are excited about the talent the Cord team brings to Spotify especially as it relates to design and audio experiences,” Spotify said in a statement. “This acquisition is not specifically about voice messaging and there are no plans to enter that space.”
Cord had raised $1.2 million since launching in 2014.
