Spotify Acquires Echo Nest For $100 Million

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Posted 3 years ago

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Spotify Acquires Echo Nest For $100 MillionSpotify has acquired Echo Nest.

Echo Nest is a music discovery and technology company.

This seems to be a smart move on Spotify’s part, as many of Echo Nest’s clients are competitors, of particular note: Clear Channel’s iHeartradio, and Rdio.

An IPO appears to be in the works for Spotify, and an acquisition such as this only firms up their position going forward.

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