Google Acquiring Spotify In $4.2 Billion Deal

[newarkhiphop]

Google is now planning to acquire Spotify in a deal valued at roughly $4.2 billion in cash and equity, with a formal announcement slated for this week. The acquisition, first reported by the Wall Street Journal early this morning, would create a clear frontrunner in the music subscription space and give Google a massive edge over competitors like Apple.
It may also play a critical role in the upcoming launch of 'YouTube Music,' a forthcoming, subscription-focused update from Google. Other Google music-related properties are struggling, while Spotify is already established in the space. Just ahead of the acquisition, Spotify reached its six millionth paying subscriber.



The deal, expected to be finalized today (April 1st) with customary closing details coming later, would also validate the very massive and risky investments made on Spotify, particularly by Goldman Sachs, Kleiner Perkins Caufield & Byers, Northzone Ventures, and billionaires like Sean Parker and Li Ka-shing. That group is estimated to have bet north of $200 million on Spotify, with a resulting valuation of about $3 billion. All for a company that lacked any profit and carried questionable financials, but now seems to make perfect sense.

http://www.digitalmusicnews.com/permalink/2013/20130401googlespotify

 

[Real]

I've never used spotify. What exactly does it do?

 

[stealthbomber]

4.2 billion???

is it really that great of an app?

 

[Jutt]

4.2 billion???

is it really that great of an app?

Yes. I usually dont pay for apps like this, but i subscribe to Spotify.


You can download full albums,playlists etc to listen to offline. Their music library is beastly too

 

[newarkhiphop]

I've never used spotify. What exactly does it do?

think of it like netflix for movies, there is a free version and paid one $10/month, i havent used it in years, maybe someone who use it more can give more details

 

[Prince Akeem]

think of it like netflix for movies, there is a free version and paid one $10/month, i havent used it in years, maybe someone who use it more can give more details

I used it recently...Its cool for what it is.

 

[Will McLean]

I've never used spotify. What exactly does it do?

Music based subscription program, similar to Rhapsody.. I've been a subscriber since they launched in the US, hopefully Google doesn't fukk anything up

 

[Czerka]

Yes. I usually dont pay for apps like this, but i subscribe to Spotify.


You can download full albums,playlists etc to listen to offline. Their music library is beastly too

wait, you can get the actual files and keep em on your computer?

 

[stealthbomber]

Yes. I usually dont pay for apps like this, but i subscribe to Spotify.


You can download full albums,playlists etc to listen to offline. Their music library is beastly too

wait what is it exactly? i thought it was just an app for the phone. can u download songs/albums and save it to your computer?

edit: already asked

 

[Jutt]

wait, you can get the actual files and keep em on your computer?

Dont think so. I only use it on my phone, but i can listen to my whole playlist offline via the app. Great sound quality as well. I almost never download music anymore since ive been using this.

 

[Rain]

 

[Jutt]

Wonder if Google gonna integrate this with Google Music

 

[Jutt]

wait what is it exactly? i thought it was just an app for the phone. can u download songs/albums and save it to your computer?

edit: already asked

I never use the desktop version so I cant answer that, but you can download the music on the phone app and theyre available offline.

 

[newarkhiphop]

Wonder if Google gonna integrate this with Google Music

 

[Ohene]

nikka this news is one month old...did my ppost tip you off or what