Music streaming giant, Spotify, has recently acquired Dublin-based media company, Kinzen. This was a major milestone for both companies, and the acquisition was seen as a win-win for both parties. However, todays announcement of 600 job cuts across the firm has left many wondering how this will impact Kinzen. Unfortunately, Spotify has declined to comment on the matter.
What Does This Mean for Kinzen?
Kinzen is a podcasting and content discovery platform that enables users to discover new podcasts and other audio content based on their interests and preferences. The Dublin-headquartered company had raised €4 million in venture capital before being acquired by Spotify. While it is unclear at this stage what impact the 600 job cuts will have on Kinzen, it is likely that the job losses could affect its operations in some way or another.
The exact impact of these job losses on Kinzen remains to be seen. However, given that Spotify acquired the company just last year, it is highly unlikely that they would be making any drastic changes to its operations this soon after the acquisition. In addition, since Kinzen is still in its early stages of development as an independent business entity under Spotifys umbrella, there may not be any significant changes at all.
Spotify has declined to say whether or not this announcement will have any effect on Kinzen or any of its other acquisitions. A spokesperson for the company said that they “do not comment on speculation” when asked about how this announcement may affect their recent acquisitions such as Soundtrap and Anchor FM (both of which were purchased last month). As such, we can only speculate about what this means for Kinzen at this point in time.