Playlists.net, originally ShareMyPlaylists, is basically a giant database of Spotify playlists. The company was acquired this week by Warner Music Group's WEA for an undisclosed sum. It will continue operating on its own as well as going further with the use of playlists for marketing new music. Apparently that's something all the major labels are doing these days.
According to The Guardian, Warner Music's WEA bought Playlists.net for an undisclosed sum, but they're supporting it, letting it grow independently. Playlists.net is said to have "aggregated more than 150,000 playlists, while its website and apps were attracting more than 1.1 million users a month by the start of 2014."
This purchase seems to be about marketing music through playlists. It turns out all the majors have one. Universal Music has Digster, Sony Music has Filtr and WEA's Playlists.net has PlaylistMe. As Stuart Dredge points out in The Guardian, the biggest question is how neutral and independent Playlists.net itself will remain under WEA's stewardship.