Spotify Acquires Somerville-Based Music Data Site The Echo Nest
It's a match made in music-streaming heaven.
â€śWe canâ€™t imagine a better partner for our next chapter. Spotify shares the intense care for the music experience that was the founding principle of our company, and itâ€™s clearly winning the hearts and minds of music fans around the globe,â€ť The Echo Nest’s top executives said in a statement on the companyâ€™s blog.
The move to bring the two music-centric companies together is meant to strengthen Spotifyâ€™s â€śmusic discovery expertise.â€ť
The Echo Nest, which is headquartered in Somervilleâ€™s Davis Square, is a music data and intelligence platform that helps brands understand what customers are listening to, by tracking patterns in downloads and streaming habits. The service was first introduced nine years ago, and was originally operated from the kitchen at the MIT Media Lab. Since then, it has grown to a team of more than 70 employees.
Daniel Ek, founder and CEO of Spotify, said bringing The Echo Nest under the companyâ€™s umbrella was a no-brainer, and will help better pinpoint exactly what users on the music-streaming site are looking for so they can deliver a better listening experience based on preferences.
â€śWe’ve been fans of The Echo Nest for a really long time and [are] honored to have their talented team join Spotify,â€ť he said in a statement. â€śAt Spotify, we want to get people to listen to more music. We are hyper-focused on creating the best user experience and it starts with building the best music intelligence platform on the planet. With The Echo Nest joining Spotify, we will make a big leap forward in our quest to play you the best music possible.â€ť
The Echo Nest will stay put in Massachusetts, despite the acquisition, according to a press release from the company. They also have an office in California, which will remain where it is. There were no further details about the deal between the two companies, but it’s clear that The Echo Nest is now more focused than ever.
â€śYouâ€™re about to see some great stuff from the new Echo Nest-enabled Spotify, and weâ€™re excited to hear what [people] think,â€ť The Echo Nest founders said in a joint statement. â€śWeâ€™re all staying in town, our API stays up, and every single person at our company will continue to focus on building the future of music…weâ€™ve got some work to do.â€ť
Source URL: http://www.bostonmagazine.com/news/blog/2014/03/06/spotify-acquires-the-echo-nest-somerville/