Spotify to acquire Gimlet for more than $200 million
Spotify is in a good spot. It managed to add two million subscribers just the last quarter. It is also expected to expand in the Middle East, Africa, and possibly. India. But that’s not the only expansion Spotify is planning. A recent report claims that the music streaming company is trying to branch out from music streaming-only to podcasts as well. There already are some podcasts on Spotify, including our own Pocketnow Weekly Podcast, but this time the step the company would take would be much bigger.
Gimlet Media, the startup behind popular shows like Crimetown and Reply All, has captured Spotify’s attention. The report claims that the latter and Gimlet are in advanced acquisition talks, this being the first time Spotify would acquire a content company. The report cites unnamed sources claiming the streaming company is prepared to pay Gimlet more than $200 million in cash. While neither of the two companies commented on the report, we’ll have to wait and see how this plays out. Of course, we’ll keep you posted!