July 8, 2014
Early last week it was reported by Business Insider (BI) that Google has been talking with Songza, a music streaming platform, about buying them out. Reportedly, the price will be in the $15 million neighborhood and a bold strategic move for Google.
Companies like Spotify and Pandora have long held dominant in the music streaming business, but Google doesn’t want to sit idly by and watch anymore. And according to the BI post, Google is trailing these companies because “music doesn’t respond to search algorithms – Google’s key strength – the way simpler media like words or images do.”
Granted Songza only has about 5.5 million active monthly users – while the likes of Spotify have closer to 40 million – but that’s not stopping Google anytime soon. We’ve seen Google in acquisition mode plenty, and when they have their sights set on a target, they move for nobody.
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