Spotify has snapped up one other participant within the podcast house, saying the acquisition of Podz, a startup that developed an auto-generated “audio newsfeed” for podcasts.
Phrases of the acquisition weren’t disclosed.
New York-based Podz raised $2.5 million in seed funding led by venture-capital agency M13 together with Canaan Companions, Cost Ventures and Humbition, in addition to investments from Katie Couric, Paris Hilton, and journalist Mara Schiavocampo. As of February, Podz had 10 full-time staff.
“We consider that Podz’s expertise will complement and speed up Spotify’s centered efforts to drive discovery, ship listeners the fitting content material on the proper time, and speed up progress of the class worldwide,” Spotify stated in a weblog publish saying the acquisition.
Podz’s app makes use of machine-learning algorithms to establish the very best 60-second highlights from podcast episodes, then assembles these into a personalised feed for customers primarily based on their expressed pursuits and listening historical past.
Spotify stated it plans to combine Podz’s expertise into the Spotify expertise earlier than the tip of the yr.
The capabilities of the Podz platform, “mixed with Spotify’s 2.6 million podcasts on the platform, learnings from our work in music discovery, and present investments in podcast suggestion, will take podcast discovery to the following stage — making it simpler for listeners to seek out the content material they wish to take heed to, and for creators to be found and construct a fanbase,” in response to Spotify.
The deal for Podz continues Spotify’s bid to change into the main podcast platform. Over the previous two years, the audio streamer has acquired podcast firms Gimlet, Anchor, Parcast and Megaphone, in addition to Invoice Simmons’ The Ringer. This yr Spotify additionally acquired Betty Labs, maker of a live-audio chat app (a la Clubhouse) that Spotify relaunched as Greenroom this week.
In parallel, Spotify has been aggressively locking down unique podcast programming — this week saying a deal for Alex Cooper’s risqué intercourse and relationship present “Name Her Daddy,” following offers for “The Joe Rogan Expertise” and Dax Shepard’s “Armchair Skilled.” The corporate additionally has secured unique growth offers with the likes of the Obamas, Ava DuVernay, and Warner Bros./DC Comics.
Podz was based by tech entrepreneur and investor Bruce Imbruce in January 2020, geared toward serving to podcasters develop their audiences (and to assist podcast listeners discover new reveals). Beforehand, he was co-founder of Qwiki, which developed an app that robotically generated motion pictures primarily based on a consumer’s images and movies. Yahoo acquired Qwiki in 2013 for a reported $50 million.
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