Rdio, the online music streaming service founded by Niklas Zennström and Janus Friis, has announced it is acquiring Dhingana. Rdio will be using Dhingana to launch Rdio India later this year. Around a month ago, Dhingana shut down without explaining the reasoning.
There was speculation that Dhingana took a massive hit because music label T-Series chose not to renew its licensing agreement in December. The terms of the acquisition were undisclosed.
Rdio is present in 51 countries right now and India would big a big market for the music streaming service. Dhingana has access to over 1 million songs in 42 languages.
Dhingana raised $7 million in funding in 2012 and the company hired its first external CEO less than a year ago.
Rdio India will compete directly against Saavn and The Times of India?s Gaana.com.
?I am very happy about the association and wish Dhingana & Rdio all the very best as they continue their journey forward. After working tirelessly for Dhingana for the last 1 year, I would be taking a pause now and exploring other opportunities moving forward,? stated Rohit Bhatia, CEO of Dhingana.
[Source: Dhingana.com / TNW]