Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Illustration: Sam Jayne / Axios
Spotify has acquired Swedish collaborative music-making startup Soundtrap, the latter said on its website. Spotify paid at least $30 million, according to Breakit.
The big picture: As Spotify eyes a public listing of its stock next year (as it has been reported and sources tell Axios), the company has to keep growing its music business beyond streaming existing tracks. This way, it can provide more services, such as music collaboration tools to artists.