Spotify buys audiobook platform Findaway

elnaz asadi/Unsplash

Spotify's newest acquisition suggests it wants to develop its library of audiobook titles. The company bought the audiobook platform Findaway, an Ohio, US-based company with a catalog of over 325,000 titles. It has partnerships with companies like Apple, Amazon, and other retail giants. The service also makes tools for audiobook creators. 

The streaming service hasn't released the acquisition details, and it wouldn't go into the specifics about what it plans. But the company has said in a statement that this deal can help it "quickly scale its audiobook catalog" and create new opportunities for authors and publishers.

Source: Engadget