Spotify acquires startups Soundwave and Cord Project to expand social reachBy Shawn Knight
With more than 75 million users (and more than 20 million paying subscribers), Spotify has emerged as a leading force in the world of streaming music. Its social presence, however, isn't nearly as advanced which is why the Swedish streaming giant recently acquired two startups that specialize in that very area.
Soundwave is perhaps best described as a mobile take on Last.fm. The app keeps track of what you listen to on your mobile device, allowing users to comment on tracks and discuss music with other users. Soundwave never really had a huge following but according to The Next Web, it did manage 1.5 million app installs across 190 countries and 14 languages.
The startup's CEO, Brendan O'Driscoll, told the publication that its existing service will eventually be shut down as its technology is integrated into Spotify's core product.
Cord Project, meanwhile, launched in 2014 and gained notoriety for its Cord app. Their flagship product, Cord, is a voice messaging platform that lets users send snippets of audio to friends and family around the globe. It's similar to WhatsApp and iMessage, both of which let you send audio clips with ease. Cord has over a million users worldwide, we're told.
Spotify said both teams will join its product development organization to help create engaging and innovative music experiences. The company didn't reveal terms of the acquisitions.