Gaana Scoops Up Music Streaming Portal Musicfellas

(Before It's News)

In a bid to strengthen its offerings even further, Gaana has acquired an indie music platform, Musicfellas, . The financial terms of the deal were not disclosed but are speculated to be around Rs.2 crore. As a result of the acquisition, Gaana will have access to Musicfellas’s music and would add to its existing mainstream music catalogue.

Mayank Jain, will take the role of a developer evangelist at Gaana, helping developers to build similar music apps for the website. Gaana is also looking at product offerings by building a host of large suite applications.

Speaking about the acquisition, Pawan Agarwal, Business Head, Gaana.com, said, “Musicfellas gives us an opportunity to work closely with the fast emerging Indie music industry in India. We are also acquiring a great team and product with this acquisition that will help us to be at the forefront of online music broadcasting business in India, particularly on mobile. We are looking forward to be more active with the startup ecosystem in India to build a large suite of applications on Gaana platform and thus expand the developer ecosystem around our product.”

Funded by TLabs and seed fund run by Times Internet, Musicfellas boasts more than 700 Indie music artists across the globe. The music portal not only allows users to discover, network and buy new indie music, it also helps independent artists make money by selling and promoting their music online. We had reviewed the portal after its launch in mid 2012.

Gaana updated its Android and iOS apps with revamped UI and new features in December last year. The music service which currently boasts 7.5 Mn monthly active users with 2 Million registered users also plans to open its API for third party developers. It competes with other players like Saavn, Hungama and Dhingana (which is speculated to be shutting down).

Source: iamWire

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