With the purchase of Soundtrap, Spotify continues to expand the services it offers to artists beyond the basic music transmission.
Between Swedes and musicians the game goes. Spotify has acquired the online music studio Soundtrap , which provides creators with a platform for recording their tracks online. The terms of the agreement have not been disclosed.
The Swedish publication Dagens Industri points out that Soundtrap , founded in 2014, had a value of about 200 million Swedish crowns (24 million dollars) a year ago. The startup had raised $ 8.5 million to date.
The Soundtrap team , including its founders Björn Melinder, Fredrik Posse, Gabriel Sjöberg and Per Emanuelsson, will join Spotify as a result of the acquisition. The startup has a staff of 35 people, according to TechCrunh .
The company, based in Stockholm, created a freemium recording studio for podcasts and music based on the cloud. Soundtrap includes its own collection of loops, as well as the possibility for musicians to connect their instruments.
With this acquisition, Spotify continues to expand the services it offers to artists beyond the basic transmission of music. The Swedish company does not want to be just a distributor of music and other types of audio, but also to help facilitate its creation.
The purchase of Soundtrap adds to several recent launches by Spotify , which also focuses on providing more services to artists using its platform, including the real-time transmission of new releases through a dedicated mobile application. It also offers other services in areas such as merchandising and events.