Spotify Ltd. is stepping up the competition against Apple Music and major European rivals Deezer and Tidal with a pair of acquisitions aimed at making it easier to discover and share music with friends.
The Swedish music-streaming service has acquired Dublin-based Soundwave, an app downloaded more than 1.5 million times, praised by Apple Inc. co-founder Steve Wozniak and British actor Stephen Fry and invested in by Marc Cuban. It lets users explore music with private groups and see what music is trending nearby. The second purchase is Cord Project, a simple voice messaging service for phones, tablets and smartwatches. Financial details of the acquisitions were not disclosed.