|Jan 18, 2013, 10:59 AM||#1|
How Steve Jobs Buys a Company and Why Apple Bought Lala
Aubrey Johnson, a former Color employee, shares two stories behind the scenes at Apple's acquisitions of both Color and Lala -- both firms were founded by Bill Nguyen before being acquired by Apple for two very different reasons.
Like Pandora, Lala's music was streamed from the internet rather than stored locally. This allowed users to listen to a catalog of over 7 million songs for free as a stream over the web -- much like Pandora or Spotify today. Songs could also be purchased and downloaded, typically for a lower price than iTunes was offering.
Johnson writes that Lala's biggest strength was that it was at or near the top for many Google searches of particular songs, thanks to a search placement deal with Google. As a result, the firm was siphoning sales away from iTunes. As well, Google and Lala had partnered on Google's Music service. Both Nokia and Google made lowball offers for the firm, and Nguyen headed to Apple to see if they'd be interested in buying his company.
Update: Johnson's post has been removed.
Article Link: How Steve Jobs Buys a Company and Why Apple Bought Lala
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