Apple Scoops Up Music Analytics and Discovery Start-Up Asaii.
Axios reports that Apple has scooped up the San Francisco-based start-up for less than $100 million, citing anonymous sources. Both Chen's and Theakanath's LinkedIn profiles now say they started working at Apple Music this month, effectively confirming the acquisition. Asaii's third co-founder, Chris Zhang, who did not previously work at Apple, has similarly updated his LinkedIn profile and now works as a software engineer for Apple Music.
Asaii had an enterprise product called Asaii Recommend, an API that could connect to a music-streaming service to algorithmically create personalized playlists and recommendations. That's precisely what Spotify's (NYSE:SPOT) Discovery Weekly playlist does, which is one of Spotify's most popular features and a strong differentiator when it comes to content discovery. Apple Music's content discovery tab, "For You," has some catching up to do, and Asaii will help close the gap.
Source: The Motley Fool
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