Google Acquires Music Streaming Startup Songza
Bianca Ortega | | Jul 02, 2014 05:06 AM EDT |
Google has bought music streaming firm Songza following speculations about a potential buyout
Songza determines the best on-demand curated playlists for users by using information about them. Google is apparently using the startup's best features to beef up its own music streaming service, TechCrunch explained.
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One of Songza's advantages over its competitors is its use of human curation to create a better music experience for its users. Pandora, Spotify, and other bigger music streaming firms rely more on algorithms.
The newly-acquired startup also has piled up massive amounts of data on the kind of music that people want to listen to based on location, activity, weather, and time of the day.
As a company that seeks to incorporate technology into every aspect of a person's life, Google sees Songza as a valuable addition to its services.
Google was initially reported to be aiming for a $15-million value for the acquisition, but the exact financial terms of the deal have not yet been disclosed. Since Songza was reportedly also being courted by other potential buyers, the price tag for the deal possibly increased considerably.
For now, Songza's service will remain as is although its expertise will be integrated into Google Play Music, YouTube and other Google products.
The startup will still operate from its Long Island City headquarters for the next few weeks before moving into Google's New York City office, but the fate of Songza's employees is yet to be determined.
At present, Songza's active users are pegged to be around 5.5 million, but the company did not reveal how many of them pay the $0.99 weekly subscription fee to avoid the ads.
In an official statement, Google described Songza as a service that gives users "the right music at the right time."
Songza, on the other hand, released a statement saying Google will help it achieve its goal of providing its users "the perfect soundtrack." The startup also said it plans to make its service faster and smarter.
TagsSongza, buys, Music streaming, startup
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