Deezer have just acquired a new social app from Israel that they will use to create their very own new show.
French music streaming service Deezer recently made an investment deal with Mexican company Grupo Salinas. The deal sees $40 million invested in the streaming company and has led to their purchase of MUGO Inc., a social music startup from Israel.
The Israeli company broadcasts their own TV program called MUGO Live in Mexico. With their acquisition by Deezer they will now be renaming the program Deezer Live, making the French streamer the first music streaming company with their very own show.
MUGO are the patented developers of Live Share technology will lets people who are apart synchronise their listening experiences online. The technology is capable of matching their playback into a shared experience even if they’re using different devices or services.
Their app also lets users track other people who have similar tastes so that you can connect and share music with each other. The social elements of their business could be something that Deezer will now look to implement into their own service and apps.
Speaking on the acquisition, joint-founder of MUGO Ori Segal said: “It’s a great deal for us who always strived to turn listening to music into a social event. Now it’s really happening. Prior to the sale, we raised $3.5 million and another $5 million for marketing. It’s a very good deal for all the parties.”
Since their investment deal with Grupo Salinas, Deezer have bolstered their total valuation to $1.4 billion. Last month, Spotify overtook Deezer to be the most used music streaming service in France. Whilst they may not be the most popular service in their home country anymore they certainly still seem to be doing well.