Spotify reportedly in “advanced stages” of acquiring podcast company for $230M

Enlarge (credit: Spotify / Gimlet)

Multiple outlets, citing unnamed sources, reported on Friday that Spotify is in the "advanced stages" of acquiring a leading podcast production company. The rumored deal is no slouch: $230 million to acquire Gimlet Media, the company responsible for highly trafficked podcasts such as Reply All, Science Vs., and StartUp.

Recode and The Wall Street Journal each reported a Gimlet bid from Spotify in the neighborhood of "over $200 million." That number was later clarified by Hot Pod newsletter author Nick Quah to be closer to $230 million. All three reports point out that the deal has not been completed.

The reports include a reminder that Gimlet's last public valuation, based on venture capital funding, hovered somewhere around $70 million in August 2017. Spotify has previously acquired smaller music- and streaming-related companies, including the music-rights data firm Loudr.fm and the virtual studio service Soundtrap. But neither acquisition's cost has been publicly announced (nor have either of those been rumored to be anywhere near $230 million). More importantly, those acquisitions have revolved around platforms and technologies, not potentially exclusive series and content.

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