Google Is Buying Songza
However, the New York Times reports Google paid more than $39 million for the service. Songza has just about 5.5 million active users, a fraction of rivals like Pandora Media Inc(NYSE:P) and Spotify, each of which as tens of millions of users. Songza’s technology uses factors like time of day and a listener’s location to create custom playlists. The company’s CEO said that technology could translate to other uses, beyond music.
“We can’t think of a more inspiring company to join in our quest to provide the perfect soundtrack for everything you do,” Songza chief executive, Elias Roman, said in a statement.
Yahoo Finance Senior Columnist Michael Santoli said Google is experimenting with many different areas and this is part of Google’s new campaign to organize information.
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