It was reported that streaming music service provider Spotify said on Tuesday that the company had acquired Betty Labs to accelerate its entry into the live audio market, which developed Locker, a social audio application focused on sports. During the new crown pneumonia pandemic, new voice platforms have grown rapidly in recent months, including the invitation-only social application Clubhouse.
The Locker Room app will be launched in October 2020 and has become a popular platform for sports fans to chat and host watching parties. Spotify said that the company will “develop and expand” the app in the next few months to provide users with sports, music and cultural programs, as well as live conversations with professional athletes, musicians and other celebrities.
“Creators and fans have been asking for live content on Spotify, and we are very happy to soon provide this content to hundreds of millions of listeners and millions of creators on our platform.” Spotify Chief R&D Officer Gu Gustav Soderstrom (Gustav Soderstrom) said.
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Spotify did not disclose the price of the acquisition. Betty Labs was initially supported by Lightspeed Venture Partners, a venture capital firm, and later by GV and Primitive Ventures, the venture capital arm of Google’s parent company Alphabet. In October last year, Betty Labs raised $9.3 million in seed funding under the leadership of GV.
“We are very happy to join forces with Spotify to continue to build the future of audio-we will invest more in our products, open up the experience to Spotify’s audience, diversify the content we provide and continue to expand the community we build. “Betty Labs founder and CEO Howard Akumiah (Howard Akumiah) said.
Spotify has also been entering the field of podcasting, has spent hundreds of millions of dollars to expand the coverage of its podcasting service, and launched a podcast advertising market platform. According to a screenshot shared by a Twitter user last week, Spotify is investigating how often users use Clubhouse. Twitter itself is also testing the live audio application Spaces and plans to release it publicly in April. It is also reported that Facebook is developing its own live audio service.
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