“It’s Spotify’s ambition to be the destination for all things audio both for listeners and creators,” said Spotify Chief Research and Development Officer Gustav Söderström.
With that in mind, he added that Spotify acquiring Findaway will boost the its presence in the audiobook field and quickly meet such ambition.
This is nothing surprising, as Spotify has been branching from a mere music-streaming platform by including podcasts in its portfolio. The company has also recently launched a Clubhouse-like feature, Greenroom, that focuses more on social audio.
Spotify expected regulators to approve the acquisition deal this year. Once approved, Findaway as it is, settling in its headquarters and will continue to be headed by Findaway Founder and CEO Mitch Kroll.