Spotify, the Stockholm, Sweden-based global music platform, acquired Cord Project, a NYC-based startup that designs and builds products exploring audio on today’s and tomorrow’s connected devices, and Soundwave, a Dublin, Ireland-based startup focused on developing innovative technology and products to aid music discovery.
The amount of the two transactions were not disclosed.
Founded in 2014 by former Googlers Jeff Baxter and Thomas Gayno, Cord Project has developed Cord, a one tap voice messaging platform built for phones, tablets, and watches on iOS and Android. The product has over a million users around the world.
The Cord Project’s team will be joining Spotify in New York where they will build a product group focused on creating content experiences.
Prior to the acquisition, Cord had raised $1.8 million in seed funding from Metamorphic Ventures, Lerer Hippeau Ventures, Google Ventures, Greycroft, Slow Ventures, and some angel investors.
Co-founded in 2012 by Brendan O’Driscoll, Aidan Sliney and Craig Watson, Soundwave has developed a music social networking app for users to discover new music, share songs, and connect with music fans. The app has been downloaded more than 1.5 million times in 190 countries in 14 languages since its launch. The acquisition will allow help Spotify to enhance the overall consumer experience on Spotify.
FinSMEs
21/01/2016