Ticketing company Live Nation has acquired social music discovery app startup company Rexly through their investment company LN Labs. The financial terms of the deal are unknown. Two of Rexly’s co-founders wil be joining Live Nation and will be opening a new LN Labs office in San Francisco to build mobile apps. Rexly co-founders are Joel Resnicow, Kyle Fleming, and Bradley Lautenbach.
?Rexly is joining forces with Live Nation Labs first and foremost because of shared values and vision,? stated the Rexly co-founders in a blog post. ?We are all lean entrepreneurs. We obsess over user-driven design and data-driven decision making. Most important, we are deeply committed to creating phenomenal experiences for music fans, nurturing the music tech community and breathing new life into a challenged industry.?
Rexly is backed by several angel investors and their iPhone application Rexly allows people to discover music through friends. The application connects to iTunes and Facebook for making recommendations and providing users with a way to share songs that they listen to on iTunes. Resnicow and Fleming will be recruiting iOS developers, front-end developers, mobile designers, and music hackers to build up LN Labs’ presence in San Francisco, California. Rexly’s iOS app will keep running.