Over the past few weeks, several companies have made announcements on acquiring startups. Here’s the latest on Canada’s movers and shakers.
Sodatone acquired by Warner Music Group
Warner Music Group has acquired Sodatone, a startup founded in 2016 focused on identifying unsigned talent by tracking early predictors of success, such as the loyalty and engagement of a growing fan base, and the potential virality of a track or demo.
Sodatone also provides insight into audience reaction to releases from established artists and songwriters. The service is versatile in providing global and regional views, enabling artist and repertoire divisions — which are focused on talent scouting — to focus on specific territories as well as global reach.
“At Warner Music, we’re creating an entrepreneurial environment where art and technology thrive together. Arjun and Jerry are two talented pioneers, whose passion for algorithms and trends is matched by our love for music and culture,” said Max Lousada, CEO of recorded music at Warner Music Group. “They understand that A&R instinct has always been informed by different types of data, and have created a tool that brings new sophistication and foresight to creative decisions. As the youngest member of our growing family of brands, Sodatone will help to differentiate us in the search for the superstars of tomorrow.”
The company will continue to be run by its founders, Arjun Bali and Jerry Zhang. Reporting to Vinnie Freda, WMG’s chief data officer, the founders will collaborate closely with A&R executives across WMG’s recorded music and music publishing operations.
“We chose Warner Music Group as our new home because we respect the company’s openness to experimentation and admire their approach to artist development,” said Bali and Zhang. “Having worked with so many music companies, it will be inspiring to be closer to the music-making process, and explore how we can fine-tune our technology to make it an even more powerful tool in the hands of the creatives. Max, Jon, Steve, Vinnie and the rest of the leadership team are very supportive of our ambitious plans for the future.”
QuickTapSurvey acquired by undisclosed US buyer
QuickTapSurvey, a survey app that allows companies to create online and offline surveys to be completed on iPads, has been acquired by an undisclosed US buyer. Sampford Advisors closed the acquisition.
“As founders of an already successful global business, we were looking for the right partners to help us reach the next level of growth,” said Tishan Mills and Ravin Shah, co-CEOs of QuickTapSurvey. “We looked at several potential advisors to help us in our search and it was clear from the outset that Sampford was the right choice. Once we engaged with Sampford, the value of their experienced team quickly became apparent.”
Launched in 2010, the Toronto company boasts clients like Disney, Nike, and McDonald’s. The platform allows its users to collect data based on customer feedback and create mobile forms to conduct research. The company was the first from Canada to receive a Tabby/Mobby award in 2015.
Vancouver-based Procurify acquires VendorBase
Vancouver-based Procurify, a spend management software for companies, has acquired VendorBase, an independent online buyer-supplier platform. VendorBase has rebranded to Procurify Exchange (PEx) under the acquisition.
The acquisition helps Procurify move from a purchasing software to a single hub where all purchases and spending can be tracked on one platform, which it calls its Smart Spend hub.
“We believe that tracking spend and understanding how spending impacts organizations shouldn’t be difficult,” said Aman Mann, CEO and co-founder of Procurify. “Spend solutions should be as easy to use and accessible as your favorite social media platform.
“Knowing the why behind what you are spending is so important – Procurify gives you the visibility to see what has been purchased and why.”
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