Spotify Closes Findaway Buy, Will ‘Quickly Scale’ Its Audiobook Offering

Spotify closed its acquisition of digital audiobook distributor Findaway (see 2206170004), said the buyer Thursday, saying Findaway’s technology “will help propel Spotify into the rapidly growing audiobooks industry with substantial market opportunity.” Findaway’s technology infrastructure “will enable Spotify to quickly scale its audiobook catalog and innovate on the experience for consumers, simultaneously providing new avenues for publishers and authors to reach audiences around the globe.”