Some exciting news coming in just now. Somerville, MA based company The Echo Nest announced via a press release this morning that they have been acquired by Spotify. The company has been in existence since 2005, and they have been pioneering the way people listen, see, think, and experience music in ways never thought possible. Read more about the acquisition from Echo Nest CEO Jim Lucchese:
“Since founding The Echo Nest, Brian Whitman and Tristan Jehan have created a company completely and beautifully obsessed with understanding the world of music to help fans discover more music, Joining forces with Spotify gives us the opportunity to continue doing so as part of the fastest-growing service in the world; we're thrilled to be part of a team equally as passionate about connecting more people with more music."
I was formerly an intern for The Echo Nest a few years back, and it was an absolutely amazing experience to be around people who were as obsessed with music as I was, and were aiming for a better understanding of how people listen to music and gather as much information as possible about people's listening habits and what artists they enjoyed listening to the most. The company will still continue to operate from its offices in Davis Square in Somerville and via its satellite office in San Francisco as well. Financial terms of the deal were not disclosed, but this gives Spotify a huge advantage over all the other streaming competitors currently out in the market.
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