Soundtrap, the three-year-old Stockholm-based startup which has developed an online collaborative music and podcast recording studio, announced its acquisition by streaming giant, Spotify, on 17 November 2017.
Soundtrap’s software allows users to record their creations with microphones on their own devices before saving them to the cloud, and to collaborate with others in real time and share their work. The company is a Google for Education Partner and the software has been widely adopted by teachers and schools.
Announcing the acquisition by Spotify, Soundtrap said:
‘Our two teams are culturally, creatively and strategically a great fit, so Soundtrap — including all our staff — will continue to revolutionise the music-making process for consumers, educators and students from within the Spotify family.
‘The essence of Soundtrap is to give easy-to-use, collaborative, music-making capabilities to anyone with an electronic device and a passion for music. When we launched, we were delighted to see that Soundtrap was a hit with consumers and we soon followed up with an education version that has been widely adopted by schools. This is a perfect fit because Spotify has also helped democratise music by helping millions of artists connect with millions of fans while helping listeners discover their favourite new artists.’
The entire Soundtrap team will move to Spotify. Terms of the deal have not been disclosed though Soundtrap has received a total of US$8.5m in funding to date, including a US$6m investment in 2016.