Spotify is one of the world’s leading music streaming companies, and over the years it has made a number of acquisitions to expand its reach and offerings. Its first acquisition was Tunigo, a Stockholm-based music recommendation startup, in 2013. Since then, it has acquired a number of companies to help improve its product offerings and expand into new markets.
Soundwave, an Irish social music discovery app, was acquired by Spotify in 2015. Soundwave allowed users to share their music listening habits with friends, as well as follow each other’s listening habits and discover new music. The acquisition of Soundwave allowed Spotify to add a social element to its platform and provided it with access to a new market in Ireland.
MightyTV, a recommendation engine for movies and TV shows, was acquired by Spotify in 2016. The acquisition allowed Spotify to expand its content library beyond just music and into other forms of entertainment such as films and television shows. MightyTV also provided access to valuable data which could be used for personalization purposes on the platform.
Cord Project, an audio messaging app, was acquired by Spotify in 2017. Cord Project had built an app that allowed users to send audio messages back and forth with each other, similar to text messaging but using voice instead of text. The acquisition gave Spotify access to this technology which could be used for various features on the platform such as voice messaging or audio chatting with friends on the app.
Anchor, a podcast creation platform, was acquired by Spotify in 2019. Anchor had built an easy-to-use platform for creating podcasts which made it easier for people to create their own content without having any prior experience or technical skills. The acquisition gave Spotify access to this technology which enabled them to launch their own podcasting service on the platform.
Spotify has also made investments in startups such as Parcast (a true crime podcast network) and Gimlet Media (a podcast production studio). These investments have helped Spotify expand its portfolio of content offerings beyond just music streaming services.
In conclusion, over the years Spotify has made various acquisitions and investments in startups that have expanded their reach into new markets and enabled them to offer more content options on their platform. These acquisitions have been instrumental in helping them become one of the world’s leading streaming services.