Streaming music service Spotify on Thursday announced it has purchased the Echo Nest, a music intelligence company that powers Web radio, recommendations, and playlists for a swath of media firms -- including some Spotify competitors.
Finanancial terms weren't disclosed.
It's Spotify's answer to Pandora's Music Genome Project. Pandora, the biggest radio service on the Internet, evolved out of a venture to separate and identify the DNA of the world's catalog of songs,and it has credited its growth to Music Genome Project's ability to coalesce related songs based on that data.
The Echo Nest … Read more