The amount of the transaction was not disclosed.
With the acquisition, Spotify will leverage The Echo Nest’s musical understanding and tools for curation to continue to expand its music discovery service and strengthen its ability to help brands and partners build music experiences for their audiences.
Co-founded by Brian Whitman and Tristan Jehan and led by Jim Lucchese, CEO, The Echo Nest will continue to operate in Somerville, MA and in San Francisco.
Its API will remain free and open to support its developer ecosystem, which will remain a priority for the combined companies.
The company was backed by Norwest Venture Partners, Matrix Partners, Commonwealth Capital Ventures, Fringe Partners, Jim Pallotta and board member Michael Brown (read here).