Spotify has acquired two social music startups, Cord Project and Soundwave.
Cord Project is the developer of voice messaging app Cord, which currently has 1m users. The team will remain in New York, where the company was founded in 2014, to work on what Spotify describes as 'a new product group that will focus on creating compelling content experiences'.
Dublin-based Soundwave is a social networking app with a focus on music discovery, similar to Last.fm, which has been downloaded 1.5m times since the company was founded in 2012. It sounds as though Soundwave will be rolled into Spotify's own app in order to 'enhance the overall consumer experience'.
“Spotify is laser-focused on delivering innovative and engaging music discovery experiences to delight our millions of users,”, said Shiva Rajaraman, Spotify’s VP of product. “The acquisitions of Cord Project and Soundwave give us the opportunity to bring two extremely talented and like-minded teams into the Spotify family. We’re excited to welcome them on board, and are looking forward to their contributions in shaping the future of music engagement.”
Spotify has declined to reveal the amount it paid for either company.