Spotify snaps up Dublin-based music app startup Soundwave
Published 21/01/2016 | 02:30
Irish startup Soundwave has been bought by music streaming giant Spotify for an undisclosed sum.
Soundwave, founded in 2012, makes an app that tracks people's listening habits across multiple services, and collates the data in order to suggest music based on the tastes of friends or people that users follow.
The app has been downloaded more than 1.5 million times across 190 countries since its launch.
"The acquisition of Soundwave will help Spotify to enhance the overall consumer experience on Spotify," the Swedish giant said, in a statement in which it also announced the acquisition of voice messaging service Cord Project.
"Spotify is laser focused on delivering innovative and engaging music discovery experiences to delight our millions of users," said Shiva Rajaraman, Spotify's VP of Product.
"The acquisitions of both Cord Project and Soundwave give us the opportunity to bring two extremely talented and like-minded teams into the Spotify family."
Soundwave's team will remain with Spotify. The Irish company's backers include ACT Venture Capital and the owner of the Dallas Mavericks basketball team, Mark Cuban.
In a blog post, Soundwave chief technology officer and co-founder Aidan Sliney said the music industry was changing fast and that now was the perfect time for his company to join forces with Spotify. "We're even more excited about hitting our next milestone," he said.