Spotify Acquires Cord Project for Undisclosed Sum

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=349c519b-71b7-4d9f-9e91-f629198fe4b5
Date
1/22/2016
Company Name
Cord Project
Mailing Address
240 Kent Avenue Brooklyn, NY 11249 USA
Company Description
Cord is incredibly simple, incredibly fast voice messaging that lets you chat with one friend or shout to a whole group of friends. Cord is a whole new way to talk on your phone again.
Website
http://www.cordproject.co
Transaction Type
M&A
Transaction Amount
Undisclosed
Transaction Round
Proceeds Purposes
M&A Terms
The acquisition supports Spotify’s strategy of building a great experience for music fans. Both teams will join Spotify’s product development organisation, where they will further boost Spotify’s existing strengths in developing engaging and innovative music experiences. Financial terms of the transaction were not disclosed by the companies.