Amazon recently announced that it’s acquiring Wondery, one of the last major independent podcast networks that having podcasts including “Dirty John,” “Dr. Death,” “Business Wars,” and “The Shrink Next Door.”
The acquisition is a neat one because it sets Amazon up to better compete against Spotify, making a series of acquisitions, including podcast network Gimlet. With this acquisition, Wondery will become part of Amazon Music, which launched podcast support in September this year. “Amazon Music launched podcasts in September 2020, and together with Wondery, we hope to accelerate the growth and evolution of podcasts by bringing creators, hosts, and immersive experiences to even more listeners across the globe, just as we do with music. This is a pivotal moment to expand the Amazon Music offering beyond music as listener habits evolve. Our commitment to podcasts, our focus on high-quality audio with the Amazon Music HD tier, and our recent partnership with Twitch to bring live streaming into the app make Amazon Music a premiere destination for creators,” Amazon states.
Amazon didn’t disclose the acquisition price. Earlier this month, the Wall Street Journal reported that the firms were in deal talks, pegging Wondery at a valuation of more than $300 million. Wondery was founded in 2016 by former Fox executive Hernan Lopez and has raised a total of $15 million in funding from Advancit Capital, BDMI, Greycroft, Lerer Hippeau, and others, according to Crunchbase.
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December 31, 2020 at 03:11PM
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Amazon Acquires Wondery To Be Strong In Podcasting Network - Forbes
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