Music streaming company Spotify has primed itself for expansion with the acquisition of two startups.
It has bought New York-based company Cord Project, which primarily develops audio messaging servicing services, a talent-base Spotify will tap. Although it cautioned: “This acquisition is not specifically about voice messaging and there are no plans to enter that space.”
Dublin’s Soundwave, a music discovery app describing itself as the industry’s online “wartercooler”, also joins Spotify for an undisclosed fee.
A statement from Soundwave read: “The music industry is changing, and its changing fast.
“We think now is the perfect time for Soundwave to join forces with Spotify, the number one music streaming service in the world and the perfect home for us to continue our mission.”
With the acquisitions, Spotify clearly looks intent on bolstering its service as a social platform for its 75m global users.
The announcement came on the same day Spotify rival Deezer raised $100m in funding.