Amwal Al Ghad English - 2014-07-02 12:40:43
Google GOOGL +1.17% announced today that it has acquired New York based Songza, a music streaming company that is known for curating playlists and recommending them using a signature Concierge service. When selecting the Concierge feature, Songza will ask you to pick your mood or genre preference. Songza also senses your time of day to suggest curated playlists like “Mellow Escapist Evening” or “Classic Pop Wake-Up Call.” The playlists are curated by DJs and music journalists. Songza is available through its website, iOS, Android and Chromecast.
The terms of the deal were undisclosed, but earlier rumors suggest that the price of the acquisition was $15 million. According to TechCrunch, there was a possibility that Songza was approached by other potential buyers, which may have raised the price “considerably.” Sources with The New York Times said that the deal was worth over $39 million several hours after the deal was announced. Employees will remain in Songza’s office in Long Island City, New York for the next few weeks and then will work out of Google’s NYC headquarters.
Google said that nothing will change for Songza users following the acquisition. In the future, Google will find ways to “bring what you love about Songza to Google Play Music.” Songza features will likely be rolled into YouTube and several other Google products after the Google Play Music integration. Google said that Songza “built a great service which uses contextual expert-curated playlists to give you the right music at the right time.” More»