Watch Out, Twitter; Here Comes Spotify
This week, audio streaming giant Spotify Technology (NYSE: SPOT) announced that it has acquired Betty Labs, the parent company of live-audio app Locker Room. The deal is rumored to be valued at about $50 million, according to The Wall Street Journal.
This announcement shouldn't come as any surprise since less than a month ago, Spotify announced at its Stream On event that the company would be making more investments in the audio space, even at one point promising greater interactivity for creators and users. Spotify plans to leverage Locker Room's technology for other media as well, giving creators of all types a platform to better engage with their audiences.
Image source: Spotify.
Source Fool.com
