Apple to Pay $30M for Internet Talk-Radio App Swell
According to a new report, Apple is set to pay $30 million for Internet talk-radio app Swell. At this stage neither Apple or Mountain View, California startup Swell have confirmed or denied the rumors.
Swell plays podcasts in continuous streams that become personalized over time for each user depending on the shows they listen to. It is currently available for Apple iOS devices and has a beta version on Android. According to Re/Code, the app will shut down this week.
If the acquisition goes ahead, Swell will be Apple's second audio streaming purchase this year, after acquiring Beats Music in May as part of a $3 billion purchase that also included headphone maker Beats Electronics. Beats Music lets users stream more than 20 million songs for $9.99 per month.
