American digital music firm Rdio is buying Indian music streaming startup Dhingana, which previously announced a February shutdown. The financial terms of the acquisition deal were not disclosed, according to TechCrunch.
Under the terms of the transaction, Dhingana founders Swapnil Shinde and Snehal Shinde will be integrated into Rdio to help the latter tap into the Indian market. This is part of Rdio's strategy for international expansion, the report explained.
Rdio Chief Executive Officer (CEO) Anthony Bay said: "India is a tremendously vibrant market for music and culture and one of the largest and most important in the world. We are one of very few global companies that can provide a great music experience to an expanding international audience. It is our objective to bring that experience to India and to non-resident Indians and fans around the world."
However, music streaming services still face a lot hurdles in India, where music piracy is very rampant. In addition, they still have to deal with the large fees for digital music rights of every song on top of individual streaming costs, TechCrunch reported.
Join the Conversation