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Reading: Spotify paid $123 million for Findaway, the bedrock of its audiobook ambitions
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Dubai News Club > Tech > Spotify paid $123 million for Findaway, the bedrock of its audiobook ambitions
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Spotify paid $123 million for Findaway, the bedrock of its audiobook ambitions

Press Room
Last updated: 2022/07/28
Press Room
Published: July 28, 2022
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Spotify’s purchase of Findaway, a platform that allows users to create, distribute, and monetize their own audiobooks, cost it €117 million, or around $123 million USD, the company revealed today. Findaway will provide the infrastructure for what will become the third pillar of Spotify’s business. The streaming service first announced the acquisition last November.

“We believe that audiobooks, in their many different forms, will be a massive opportunity,” Spotify CEO Daniel Ek…

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