Apple Inc. confirmed the purchase of Lala.com, a tech company that offers a fast-streaming audio application.
(Russel A. Daniels/Associated Press)
Apple buys music retailer Lala.com
Apple Inc. confirmed the purchase of Lala.com, a tech company that offers a fast-streaming audio application.
(Russel A. Daniels/Associated Press)
PALO ALTO, Calif. - Apple Inc. has purchased the online music retailer Lala.com, a Silicon Valley start-up that has threatened “the end of the MP3’’ with its fast song-streaming application.
An Apple spokesman, Steve Dowling, confirmed the purchase yesterday but would not provide any further information, including how much the deal was worth. “Apple buys smaller technology companies from time to time, and we generally do not comment on our purchase or plans,’’ he said.
Lala has developed an application that allows users to buy the right to stream songs for an unlimited time on their iPhones for 10 cents each. The quality is lower than what Apple’s iTunes songs offer, but tracks can be played in seconds, and cost much less than the songs on iTunes, which generally are priced at 69 cents to $1.29 each.
Lala, a private company in Palo Alto, was launched in 2006 with $35 million in venture capital from Boston-based Bain Capital LLC, Ignition Partners, and Warner Music Group Corp. Lala began as an online CD-trading site but was relaunched in 2008 as a music retailer.
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