Today, Spotify, a music streaming giant, announced that it had acquired Soundtrap, a Stockholm-based music startup.
Spotify’s new acquisition enables users to create music online through the use of a web-based production studio that is similar to the Garageband software of Apple.
Today, Spotify said that Soundtrap was “highly aligned with Spotify’s vision of democratising the music ecosystem.”
Yesterday, the music streaming giant made a renewed commitment to London, stating that it plans to double the company’s 200-strong workforce in the capital over the coming two years.
Spotify said that London would become a “major hub” for the company’s research and development, as well as the part of its business that is dedicated to boosting subscribers.
The company’s vice president of product, Jason Richman, said that the company would initially look to employ people for its engineering, machine learning and data teams.
Richman said: “London has made the decision of where to grow our next R&D hub an extremely easy one.
“It has a vibrant start-up community, and a wealth of great tech talent, making it the perfect location in which to build out our talented R&D team.”
The mayor of London, Sadiq Khan, said: “Spotify is the latest in a long line of companies who realise that London simply cannot be beaten for innovation, with a deep pool of tech talent and a complex business ecosystem that can’t be replicated anywhere else.”