Google Tuned Out: Fails to buy Spotify
Google tried to buy Spotify but it could not stomach the price. The whooping price tag made Google to back last year as it was closing in on the deal. The WSJ cited an unnamed source as saying that the sweden-based Spotify was asking for $10 Billion in its latest round of equity funding.
Google has its own music service at its Play Online shop and set to improve its offering by acquiring the startup Songza, a free online music service. The big guns Google, Amazon and Apple have online music services that keep competing.
Recently Apple acquired Beats Music and Beats Electronics in a deal worth $3 Billion to make sure it keeps its feet in the hot field of online music.
Spotify boosts 40 million users in 56 countries as of May and 10 million subscribers to its ad-free service