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Snapchat parent firm Snap has acquired Voisey, an app that allows musicians, vocalists, and producers to collaborate.
The deal came to light via filings analyzed by Business Insider and which show Voisey’s UK registered address is now that of Snap’s London office. An industry source also confirmed the acquisition. The terms of the deal have not been disclosed. Voisey has raised under $2 million and was valued at about $3 million, according to estimates by Pitchbook.
Snap declined to comment. Voisey did not respond to a request for comment.
The Voisey app looks and feels strikingly similar to TikTok, with the app opening straight into vertical video and musical backing.
The twist is a focus on music creation. Users can pick from a repository of user-created backing beats, hit record, and overlay the track with their own vocals and post it all as a short 60-second clip.
In a musical equivalent of stickers and filters, users can edit their clips to add autotune, choral, spacey, and other vocal effects. One effect is named after Billie Eilish. Users can also contribute to Voisey’s repository of backing beats.
And as with TikTok, users can like and comment on clips, as well as “reply” to clips with their own vocals.
The result for anyone scrolling through the Voisey app is an ongoing feed of short, original music — with hiphop, RnB, and Trap as the most popular tags.
The app has already generated buzz in the music industry. Artist Olivia Knight, known on Voisey as poutyface, signed a record deal with Warner Music in September and was described as the first major talent to emerge via the app.
The deal may signal major new music-creation features for the Snapchat app in the future. Earlier Snap acquisitions have been a precursor for new features, with the acquisition of PlayCanvas in 2018 heralding a push into lightweight games.
The acquisition also follows Snap striking licensing deals with major record labels to enable users to incorporate songs into posts.
One person close to Voisey described the concept as an evolution on TikTok. The person described TikTok, which is open to any type of creator, as the “lowest common denominator” and said a service that catered to specific types of creators, such as musicians, was a logical next step.
Voisey was founded in 2018 by a collective of music-tech entrepreneurs based across Norway and London. They include Olly Barnes, previously at Universal Music and streaming service Rdio; and Soundio veterans Erlend Hausken, Pål Wagtskjold-Myran, and Dag Langfoss-Håland.
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Source:: Businessinsider – Tech