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Spotify Buys Online Music Collaboration Program Soundtrap

Spotify has acquired another startup.

This time around, Spotify has acquired its fellow Stockholm-based company Soundtrap, which advertises itself as an online recording studio and online music collaboration program.

The cloud-based program allows musicians to edit and record songs across a number of different devices.

This isn't the first company that Spotify has acquired though. In the first half of 2017 alone, Spotify has purchased AI startup Niland, data/audio recognition startup Sonalytic, TV recommendation platform MightyTV, and blockchain startup MediaChain.

The total cost to acquire such business was said to be a combination of both cash and stock for €39 million ($42m).

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