Spotify Hires M&A Specialist To Continue Music Tech Startup Buying Spree
Even as Spotify prepares to become a public company, it's been on a bit of a buying spree that the music streamer apparently wants to expand. Last week, Spotify acquired music machine learning innovator Niland. Prior to that ten other music tech startups joined the Spotify family including Mediachain, MightyTV and Sonalytic in just the last 90 days.
Spotify has hired Sheila Spence, a former mergers and acquisitions specialist at online ad giant WPP, as its Vice President of Corporate Development.
Spence will be tasked with continuing Spotify's acquisition streak of 11 companies in just over 6 years. To date, Spotify's most expensive purchase was analytics firm The Echo Nest in 2014 for a reported $60 million.