Indian online music streaming website, Gaana.com, owned by Times Internet has acquired independent music portal Musicfellas.com. The acquisition will give Gaana access to Musicfellas’ music library which has over 700 Indie music artists across the globe.
With this acquisition, the Musicfellas team will join Gaana. Also, post the acquisition, Mayank Jain, CEO & Co-founder of Musicfellas will take the role of a developer evangelist at Gaana. His role will comprise helping developers to build similar music apps for the website.
However, it is not yet clear on how Musicfellas will function online after this? Whether the website will continue as a separate entity or will merge with Gaana online.
“Musicfellas gives us an opportunity to work closely with the fast emerging indie music industry in India. We are also acquiring a great team and product with this acquisition that will help us to be at the forefront of online music broadcasting business in India, particularly on mobile,” said Pawan Agarwal, Business Head, Gaana.com.
Musicfellas was founded by Mayank Jain, Gaurav Shahlot and Shubhranshu Jain in mid 2012 and was funded by TLabs, a technology accelerator and seed fund run by Times Internet. However, Shubhranshu quit a while back joining ZipDial, a marketing and analytics platform that creates mobile engagement with all traditional media, product packages and points of sale.
The idea started as a conversation around a blog post on music written by Mayank, which resulted in the creation of portal.
“The size, diversity and reach of Gaana.com present a great opportunity to make a positive contribution in the music industry. We are excited to join Gaana as it provides us a bigger platform to do what we love – helping the music scene (indie artists in particular) to grow,” shared Mayank Jain, CEO, Musicfellas.
The online music streaming space is currently dominated by Gaana.com, Hungama.com, Saavn and Dhingana. While all the websites offer, Hindi Bollywood songs, regional and international music, the library is often limited due to licensing issues. Also with online radio strengthening hold in India, there is always the need for something more. The acquisition gives Gaana an edge amongst competition with the independent Indie music genre of Musicfellas.
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