Amazon announced an agreement to acquire podcast start-up Wondery and make it part of Amazon Music. Wondery has a track record of creating and producing top-rated podcasts that entertain and educate listeners, the company said.
The acquisition's price wasn't disclosed, but the company's value is estimated to be USD 300-400 million, according to earlier reports from Bloomberg and The Wall Street Journal. The company raised USD 10 million in its latest founding round in June 2019, taking its valuation to USD 100 million.
Wondery would technically be part of Amazon Music, which launched podcast support in September in the US, UK, Germany, and Japan, across all tiers of service at no additional cost.
After the deal's closure, Wondery CEO Hernan Lopez will leave the company and be replaced by COO Jen Sargent. Listeners will still be able to continue to access Wondery podcasts through a variety of providers, Amazon said.
Together with Wondery, Amazon Music hopes to accelerate the growth and evolution of podcasts by bringing creators, hosts, and immersive experiences to even more listeners across the globe.
Amazon Music recently entered a partnership with Twitch to integrate Twitch live streaming functionality with the Amazon Music app. It said it will continue to bring more customers to streaming together with Wondery.
