Rdio Streams Its Way Towards India With Dhingana Acquisition.
A US-based online music streaming service named Rdio has recently managed to acquire Dhingana, an online Indian music streaming service that had previously shut down in February during this year. Rdio has managed to acquire both the company and talent, along with Dhingana co-founders Swapnil Shinde and Snehal Shinda have joined the US firm, with the goal in mind of launching Rdio towards India later in the year.
Rdio as of now offers ad-supported free streaming service and ad-free subscription services in over 35 countries, while competing against other music streaming services like iHeartRadio, Spotify, and Pandora. Rdio can also be used in both as a Web-interface and an application for smartphone devices. The company first launched back in 2010 by Skype founders Niklas Zennstrom and Janus Friss, with the goal of creating a socially hyped music streaming service.
Rdio recent acquisition of Dhingana was originally reported by MediaNama. As the report has written down, Rdio plans to tap into Dhingana experience with the Indian music labes, and also attract the music streaming services previous Indian user base at the same time. Before the company had shut down back in February, the music service was one of the top three most popular radio in the country, along with Saavn and Gaana. CEO of Dhingana’s, Rohit Bhatia, has reported in remaining with the company.
CEO of Rdio Anthony Bay has this to say about the acquisition, ”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.”
There has been no official word on how much Rdio is dishing out to buyout Dhingana, MediaNama has quoted several sources comment on Dhingana lack of overall funding being raised.
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.