Spotify Acquires the Echo Nest

Huge news for Spotify this week – the popular streaming service acquired the Echo Nest, a "music intelligence" company which powers listening recommendations (among other things). The Echo Nest's API will remain open, which means that Spotify's competitors can still utilize its services, but Spotify will "gain control over tech that underpins its rivals' offerings". Read more about both companies and what they acquisition will mean for them here.