Apple, following its current spree of acquisitions, is eyeing yet another company. Swell, which is a radio streaming app, which never went public, and is still in Beta stage is reportedly in the process of being acquired by Apple.
This comes at a time, when Apple has been on a spree of buying content related companies, first of them being Beats, which was bought for a staggering $3 Billion, which is by far, the highest, Apple has paid for recently.
Then it recently acquired Book Lamp, which is a book recommendation service.
As far as this recent acquisition is concerned, Swell, is a radio streaming app, which streams personalised audio news and information. Swell had raised $7.2 million from investors including DFJ, Google Ventures and InterWest Partners. Its iOS app compiled various podcasts and shows and stitched them into personalized streams.
The amount of acquisition hasn’t been confirmed by either side, but <Re/code> has reported that the acquisition is in terms of $30 million.
Analysts see this acquisition important for Apple, largely because of the fact that Apple’s own podcast app is rated a meagre 1.5 stars out of 5 on App store.
Apple’s earlier acquisitions have also come, largely due to the failure of its own, same styled apps. Beats came in, largely because iTunes own service wasn’t receiving as favourable reviews, as Apple had expected.
Swell’s CEO, Ram Ramkumar, along with the entire Swell team, had previously designed image-recognition startup SnapTell, which they later sold to Amazon.
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