Rdio, a US-based online music streaming service, has acquired Dhingana, an Indian online music streaming service that had shut down in February of this year. Rdio has acquired the company and talent, with Dhingana co-founders Snehal Shinde and Swapnil Shinde joining the US firm, with the aim of launching Rdio India later this year.
Rdio currently offers ad-supported free streaming service and ad-free subscription services in about 35 countries, and competes with other music streaming giants like Pandora, Spotify, and iHeartRadio. Rdio is available in both a Web-interface and as an app for most smartphone platforms. It was established in 2010 by Skype founders Niklas Zennström and Janus Friis, with the aim of creating a socially-driven music streaming service.
The Rdio acquisition of Dhingana, first reported by MediaNama, gives the US firm a hand in a number of Indian pies. As the report notes, Rdio would tap Dhingana’s experience in dealing with Indian music labels, and also gain the music streaming service’s Indian user base in the process. Before shutting down in February, the service was among the top three in the country, alongside Saavn and Gaana. Dhingana’s CEO, Rohit Bhatia, will reportedly remain with the company as well.
Commenting on the acquisition, Anthony Bay, CEO, Rdio, said, “India is a tremendously vibrant market for music and culture and one of the largest and most important in the world. We are one of very few global companies that can provide a great music experience to an expanding international audience. It is our objective to bring that experience to India and to non-resident Indians and fans around the world.”
As for how much Rdio is paying to buyout Dhingana, while there’s no official word, MediaNama quotes sources as saying Dhingana will get less than the overall funding it had raised so far.
Source-NDTV
