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Spotify says it paid $340M to buy Gimlet and Anchor

Spotify doubled down on podcasts last week with a double deal to buy podcast networks Gimlet and Anchor. Those acquisitions were initially undisclosed, but Spotify has quietly confirmed that it spent €300 million, just shy of $340 million, to capture the companies.

That’s according to an SEC filing — hat tip Recode’s Peter Kafka — which deals the transactions which were “primarily in cash,” Spotify said. Kafka previously reported that Spotify paid around $200 million for Gimlet, which, if correct, would mean Anchor fetched the remaining $140 million.

Those numbers represent an impressive return for the investors involved, particularly those who backed the companies at seed stage.

Gimlet raised $28.5 million from investors that included Stripes Group, WPP, Betaworks and Lowercase Capital, according to Crunchbase.

Anchor, meanwhile, raised $14.4 million. Crunchbase data shows its backers included Accel, GV, Homebrew and (again) Betaworks.

Those deals represent a good chunk of change, but Spotify still has more fuel in the tanks.

As we reported last week, it plans to spend a total of up to $500 million this year “on multiple acquisitions” as it seeks to further its position on podcasting which, to date, has been an after-thought to its focus on music. Less these deals, Spotify has around $160 million left in its spending budget for 2019.

In a blog post announcing the deals published last week, Spotify CEO Daniel Ek admitted that he didn’t originally release that “audio — not just music — would be the future of Spotify” when he founded the business in 2006.

“This opportunity starts with the next phase of growth in audio — podcasting. There are endless ways to tell stories that serve to entertain, to educate, to challenge, to inspire, or to bring us together and break down cultural barriers. The format is really evolving and while podcasting is still a relatively small business today, I see incredible growth potential for the space and for Spotify in particular,” Ek explained.

Dom Flemons, late of the Carolina Chocolate Drops, plays music that makes me very happy

I was listening to the latest Judge John Hodgman podcast today (as I do every week!) which was performed live in Washington DC; as with every live show, there was a musical guest, and this guest was so completely awesome I made a note to post about him when I got home.
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In 1913, Joe Knowles set out to spend two months naked and alone in the Maine woods

In 1913 outdoorsman Joseph Knowles pledged to spend two months in the woods of northern Maine, naked and alone, using only what he was able to find in the forest. In this week’s episode of the Futility Closet podcast we’ll describe Knowles’ adventures in the woods and the controversy that followed his return to civilization.

We’ll also consider the roots of nostalgia and puzzle over some busy brothers.

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Equity podcast: The return of IPOs and Tesla’s billion-dollar bet

 One down, many more to go! The first episode of TechCrunch’s latest podcast, Equity, our venture capital-focused podcast is out.
This week, TechCrunch’s Matthew Lynley, CrunchBase editor-in-chief Alex Wilhelm and I sat down with investor and SaaStr founder Jason Lemkin to talk about Tesla’s $1 billion raise, the return of IPOs and recent acquisitions in the technology… Read More

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Update: The Future of HOME

Here’s a brief audio update on the immediate future of HOME: Stories From L.A. The TL;DR version is, I’m slowing down the production schedule to make the project more sustainable over the long term. Give a listen for a little more background on the hows and whys of it all. The show returns this spring for Season 5, and in the meantime, the archive is a great way to load up your podcatcher. (Oh, also: I’m looking for a social media/publicity ninja; if that’s you, drop me a line.)

HOME is a proud member of the Boing Boing Podcast Network

Subscribe: iTunes | Android | Email | Google Play | Stitcher | TuneIn | RSS

If you’re already a subscriber, many thanks. And if you have a minute to leave the show a short review at the iTunes Store it’d be much appreciated. 

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An Irish cavalryman spent most of World War I living in this cupboard

In this week’s episode of the Futility Closet podcast we’ll tell two stories about people who spent years confined in miserably small spaces. North Carolina slave Harriet Jacobs spent seven years hiding in a narrow space under her grandmother’s roof, evading her abusive owner, and Irishman Patrick Fowler spent most of World War I hiding in the cabinet of a sympathetic family in German-occupied France.

We’ll also subdivide Scotland and puzzle over a ballerina’s silent reception.

Show notes

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