On Monday reports were rife in the market that Apple has acquired music Analytics startup Asaii for little less than $100 Mn. However, latest report in Techcrunch has denied about any such acquisition taking place. Instead, Techcrunch claimed, that Apple has hired Asaii’s few employees including its three co-founders – Sony Theakanath, Austin Chen and Chris Zhang.
If this report is indeed correct then it is a clear-cut case of acquhire. Meanwhile, Apple continues to remain tight-lipped over the matter, casting a shadow of suspense over the entire issue.
It is not yet clear on what projects Asaii’s employees and co-founders will be working in Apple Music. However, speculations are indicating that they might work on improving tools for better discovery of music and artists. This, by the way, was the same project that the team worked on while working for Asaii.
Asaii, which was founded in 2016, has been going through tough times for quite some time. According to reports, the startup had recently said that it would soon pull down the shutters. The announcement immediately led to speculation that the startup is open for possible acquisition.
Irrespective of whether Apple has acquhired Asaii or not, the former will continue to make efforts to maintain pressure on Spotify. Apple music is currently lagging behind Spotify, with the latter enjoying nearly 36% market share in the global music streaming market. Spotify has over the years added several features to its services that has helped it in maintaining the lead.
