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Spotify acquires cloud-based music recording platform Soundtrap
Spotify AB is not content with being a place only to listen to music anymore, and now the Stockholm-based company wants to help people create music too.
Spotify announced today that it has acquired fellow Swedish company Soundtrap, a cloud-based recording platform for amateur and professional musicians and podcasters. The terms of the deal were not disclosed, but Soundtrap had previously raised a total of $8.5 million in funding.
Founded in 2012, Soundtrap offers a collaborative recording platform for music and podcasts that is designed to “give easy-to-use, collaborative, music-making capabilities to anyone with an electronic device and a passion for music.”
The platform is available across multiple devices at several different prices tiers, including a free membership that includes the access to 800 audio loops and 190 instruments and sounds. Higher-priced tiers include access to more projects and sounds, as well as additional tools such as auto-tune, high-quality downloads and others. Soundtrap also offers an education version of its service that is aimed at teachers and students from elementary school through university.
According to Spotify, Soundtrap will continue to operate as usual, and the company said Soundtrap’s business “is highly aligned with Spotify’s vision of democratizing the music ecosystem.”
The Soundtrap team said much the same thing. “Our two teams are culturally, creatively and strategically a great fit, so Soundtrap — including all our staff — will continue to revolutionize the music-making process for consumers, educators and students from within the Spotify family,” a Soundtrap spokesperson said in a statement.
Soundtrap is one of several startups that Spotify is acquired within the last few years thanks to the $1 billion in debt financing it raised in 2016. Spotify acquired 12 companies so far in various fields, including video streaming, voice messaging and others. Before Soundtrap, Spotify’s most recent acquisition was Niland, a Paris-based deep learning company that specializes in music search and discovery, that it bought in May.
Photo: Soundtrap
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