US-based Music Streaming platform Spotify acquires two major podcast platform Gimlet and Anchor in an Undisclosed deal.
Though Recode reported the Gimlet deal is close to $200 million.
With these acquisitions, Spotify is positioned to become both the premier producer of podcasts and the leading platform for podcast creators.
Gimlet will bring to Spotify its best-in-class podcast studio with dedicated IP development, production
“These acquisitions will meaningfully accelerate our path to becoming the world’s leading audio platform, give users around the world access to the best podcast content, and improve the quality of our listening experience as well as enhance the Spotify brand,” said Daniel Ek, Spotify co-founder and CEO. “We are proud to welcome Gimlet and Anchor to the Spotify team, and we look forward to what we will accomplish together.”
Founded in 2008, Spotify also said, it has plans to spend a further $400-$500 million “on multiple acquisitions in 2019” to get even deeper into podcast domain.
Founded in 2015 in New York City, Anchor is an end-to-end podcasting platform, available for free on iOS, Android, and web, provides easy-to-use creative tools, unlimited free content hosting, distribution everywhere podcasts are heard, and monetization options built for beginners and pros alike.
While Gimlet Media is the award-winning media company where everything begins in audio. Gimlet was founded in 2014 and is behind hit series like StartUp, Reply All, Homecoming, Mogul and more. Gimlet Creative, the company’s in-house advertising agency, helps brands find their voice in audio and produces official podcasts for brands like eBay, Tinder, Gatorade and Mastercard.