Spotify has made another acquisition as it continues to build out the services it offers to artists beyond basic streaming. It has acquired online music studio startup Soundtrap, the company announced via a blog post this morning.
The three year-old company, based in Stockholm, is the maker of a freemium (paid and free) cloud-based, collaborative music and podcast recording studio that includes its own collection of loops, as well as the ability to connect your instruments, a little like Apple’s GarageBand, as we have noted in previous coverage.
Spotify is also trying to beef up its portfolio for its IPO which is going to happen soon. Still, Soundtrap is a great company and good buy for Spotify.