Music Ally reports that Spotify is selling Soundtrap back to its founders.
Spotify sells its music-creation tool Soundtrap back to its founders - Music Ally:
Spotify is selling music-creation tool Soundtrap back to its founders to become a standalone business again, five and a half years after acquiring it.
Originally a startup from Spotify’s homeland Sweden, Soundtrap built its service as a cloud-based tool for recording and collaborating on music. Aimed at grassroots musicians and schools, it was bought by Spotify in November 2017.
Soundtrap has now been sold back to its original founders, Per Emanuelsson and Björn Melinder, for an undisclosed amount.
I was intrigued back when Spotify purchased Soundtrap and podcast publishing tool Anchor. The idea of putting both the audio creation tools and consumption tools into the hands of the general user seemed like it could result in some synergistic results long term. I guess Spotify isn’t interested in that. I am not really sure what Spotify is interested in. Their vision for the experience of using their app seems to be all over the place lately. And I don’t understand what the app offers that other music streaming services don’t, other than perhaps their superior music discovery algorithm.