As podcasts become increasingly popular, Spotify, the Swedish music streaming service, has purchased Podz for an unknown price. They stated that they bought Podz, a small but skilled team of entrepreneurs, engineers, and designers, to improve performance.
Podz, which is powered by cutting-edge machine learning techniques, creates high-quality snippets that allow users to sample important moments from podcast programs, motivating people to find and listen to new podcasts.
The startup company just secured $2.5 million in pre-seed investment, with investors including Katie Couric and Paris Hilton. The firm now intends to incorporate Podz’s technology into the Spotify interface, with listeners likely to see aspects of that work by the end of the year.