Spotify has bought analytics company Seed Scientific in order to prepare itself for an impending streaming war with Apple Music.
Founded in 2013, Seed Scientific has created algorithms and big data solutions for clients such as Audi and the United Nations. Spotify will now have exclusive use of the company’s technology.
Seed Scientific’s founder and chief executive Adam Bly said in a statement he will head up a new data team for Spotify based out of New York City.
“Adam and the entire team at Seed Scientific blew us away with their insights around data and analytics, and how to apply those insights to solve real world problems for clients,” he said.
“We are incredibly excited to welcome Seed Scientific to Spotify as we continue to build a world class analytics team that will allow us to accelerate our plan to leverage data and insights throughout the entire organization.”
Twitter invests in VenueNext in a strategic bid to expand its commerce offerings
Twitter has invested in a company that builds apps for sporting matches and music concerts in a bid to expand its commerce offerings, according to Re/code.
Twitter Ventures contributed to VenueNext’s $US9 million raise, with Aruba Networks and Live Nation Entertainment also participating. Causeway media Partners led the funding round.
VenueNext is the company behind the San Francisco 49ers’ in-stadium app, which allows users to order food or even have it delivered to their seat.
The investment follows Twitter’s recent lacklustre financial results and Jack Dorsey temporarily taking over the helm of the company.
Messaging startup Slack cracks 1 million daily users
Workplace messaging platform Slack has snapped up more than 1 million daily users, according to TechCrunch.
The startup launched a little over a year ago, and now has 300,000 paying users bringing in $US25 million in revenue.
As a result, the company is now looking to make strategic hires – bringing onboard former director of product for Twitter, April Underwood.
Overnight
The Dow Jones Industrial Average is down 178 points, falling 0.98% to 17,966.07. The Aussie dollar is trading at around 77.02 US cents.
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