Spotify has just bought this Stockholm-based music startup

Emma Haslett
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Spotify said yesterday it wants to increase R&D (Source: Getty)

Spotify has bought Stockholm-based music startup Soundtrap, it said today.

The music streaming giant's new acquisition allows users to create music online using a web-based production studio similar to Apple's Garageband software.

Today Spotify said Soundtrap was "highly aligned with Spotify’s vision of democratizing the music ecosystem".

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London expansion

Yesterday Spotify made a renewed commitment to London, saying it planned to double its 200-strong workforce in the capital over the next two years.

It said London will become a "major hub" for research and development, as well as the part of its business dedicated to increasing subscribers.

Jason Richman, the company's vice president of product, said the company will initially look to hire people for its engineering, machine learning and data teams.

“London has made the decision of where to grow our next R&D hub an extremely easy one," he said.

"It has a vibrant start-up community, and a wealth of great tech talent, making it the perfect location in which to build out our talented R&D team."

Sadiq Khan, the mayor of London, added: “Spotify is the latest in a long line of companies who realise that London simply cannot be beaten for innovation, with a deep pool of tech talent and a complex business ecosystem that can’t be replicated anywhere else."

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