Samsung Acquires Mobile Entertainment Company mSpot
Samsung Electronics has acquired mobile entertainment company mSpot. The financial terms were undisclosed, but it is rumored that the company was sold for $8.8 million. mSpot allows users to stream and watch full length movies on their mobile phones and on the web. mSpot has deals with Disney, Sony, NBC, Lionsgate, Warner, and several other companies.
mSpot also has cloud-based music services that lets you upload music to the cloud stream content from PCs, Macs, iPhones, iPads, and Androids. Last year mSpot launched a service that is similar to Pandora.
mSpot raised $2.3 million in funding from Trinity Ventures before getting acquired. Samsung plans to use mSpot to provide an “entertainment experience of music, video and radio services for users of Samsung devices, while extending mSpot’s cloud and streaming solutions to a broader base of global entertainment fans…mSpot’s entertainment services will be a key integrated offering on newly announced Samsung mobile devices.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry