Samsung announced that the company has acquired mSpot, a mobile startup company, for an undisclosed amount of money. mSpot launched its streaming business two years ago.
The amount of money that Samsung shelled out to acquire mSpot may be undisclosed but there are rumors speculating how much the company spent. The sum is said to be around $8.8 million.
According to Pandodaily, mSpot is a streaming mobile startup that supports streaming and uploading digital media that offers radio functionality similar to Pandora and is along the lines of Google Music or Cloud Player by Amazon.
According to Cnet, TJ Kang, the senior vice president of Samsung Electronics' Media Solution Center, said that mSpot shares Samsung's vision when it comes to bringing the best streaming entertainment to people. Kang also said that mSpot has a good engineering team that provides excellent technical solutions.
According to PC Magazine, when it comes to online music mSpot is a low profile digital locker. The company launched it MP3 streaming just two years ago.
MSpot users upload their own music and they get up to 5GB of storage, which does not cost users anything. MSpot also offers users movies with mSpot Movies.