Spotify has acquired Swedish startup Soundtrap, an online platform for recording and collaborating on music. No figures were disclosed.
The Stockholm-based startup was founded in 2012 and has raised more than $8 million in funding from investors including Industrifonden and former Spotify CFO Peter Sterky. According to the announcement, the startup’s team will continue to operate as is.
“Soundtrap’s rapidly growing business is highly aligned with Spotify’s vision of democratizing the music ecosystem,” said Spotify.