Spotify snaps up The Echo Nest
Published on Mar 7, 2014 6:03 AM
STOCKHOLM (AFP) - Music streaming service Spotify announced on Thursday it had acquired The Echo Nest, a company behind technology to suggest songs to listeners.
Sweden-based Spotify did not disclose how much it had paid for the US company, whose technology is used by numerous companies for music recommendation services which can be a key element in keeping clients listening.
"At Spotify, we want to get people to listen to more music," founder and chief executive Daniel Ek said in a statement.
"We are hyper focused on creating the best user experience and it starts with building the best music intelligence platform on the planet." He praised The Echo Nest as being "obsessed with understanding the world of music to help fans discover more music."
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