From the Acquisition Announcement:
Spotify Technology today announced it has entered into a definitive agreement to acquire Findaway, a global leader in digital audiobook distribution. Terms of the transaction were not disclosed.
“Together with Spotify we have the opportunity to innovate and democratize the audiobook ecosystem,” said Findaway Founder & CEO Mitch Kroll. “We founded Findaway with the recognition of the power of the spoken word through audiobooks and the unique opportunity to empower storytellers and connect them with listeners. We look forward to combining our leading technology tools and world-class team with the reach of Spotify’s platform to provide an enhanced audio experience for creators, publishers and listeners around the world.”
The company will maintain its headquarters in Solon, Ohio and will continue to be led by
Findaway Founder & CEO Mitch Kroll, who will report to Nir Zicherman, Head of Audiobooks at
The transaction is expected to close in the fourth quarter of 2021 and is subject to regulatory
review and approval.