Spotify Just Acquired Podz: Here's What Shareholders Need to Know
Spotify (NYSE: SPOT), the world's largest audio streaming platform, recently announced that the company is acquiring a small New York City-based podcast discovery tool called Podz.
Though the announcement came with an undisclosed price tag, once the tool is integrated into the Spotify platform, it could have a big effect on users and, ultimately, Spotify's financials. Let's take a look at why this audio giant just dipped into the piggy bank to buy a lesser-known podcasting app.
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Source Fool.com