Spotify Acquiring Podcast Ad Company Megaphone for $235 Million

Spotify Technology (NYSE: SPOT) is beefing up its presence in the podcast segment. The company announced that it has agreed to buy podcast advertising and services specialist Megaphone for $235 million.

A privately held company, Megaphone's platform connects podcast hosts and producers with advertisers. It also offers those content creators a number of tools and services to help their voices be heard.

Image source: Getty Images.

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Source Fool.com