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June 12, 2012 10:50 am GMT
Spotifys move last yearto open its platform to other apps has created more stickiness for its streamed music services. Now, one of the startups based around that idea has found some traction of its own: Oslo-based Soundrop, which creates "listening rooms" and social jukebox-style service for Spotify users (think Turntable.fm), has picked up its first round of investment, $3 million from Northzone, one of Spotifys own leading backers.Soundrop is a relatively young company: it had been bootstrapped before the Northzone investment and only went live in January 2012, but has already seen the creation of thousands of listening rooms and tracks played. Inge Sandvik, the CEO and co-founder, says that the new funds will be used to develop its product and to execute on its road map. As weve noted before, that plan involves expanding its own catalog of listening rooms and users -- at the moment 7,000 rooms and counting, with some 60 million songs and 3.3 million listening sessions logged. It is also developing commercial services in partnership with labels, venues and more.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/rWSRV_9ww6M/
Spotify App Soundrop Tunes Into First Investment: $3M From Spotify Lead Backer Northzone
Spotifys move last yearto open its platform to other apps has created more stickiness for its streamed music services. Now, one of the startups based around that idea has found some traction of its own: Oslo-based Soundrop, which creates "listening rooms" and social jukebox-style service for Spotify users (think Turntable.fm), has picked up its first round of investment, $3 million from Northzone, one of Spotifys own leading backers.Soundrop is a relatively young company: it had been bootstrapped before the Northzone investment and only went live in January 2012, but has already seen the creation of thousands of listening rooms and tracks played. Inge Sandvik, the CEO and co-founder, says that the new funds will be used to develop its product and to execute on its road map. As weve noted before, that plan involves expanding its own catalog of listening rooms and users -- at the moment 7,000 rooms and counting, with some 60 million songs and 3.3 million listening sessions logged. It is also developing commercial services in partnership with labels, venues and more.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/rWSRV_9ww6M/
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