About the Client
Based in Stockholm, Sweden, Tunigo is a leading destination for digital music discovery. It offers an easy and fun way to find, create, and share new music and playlists on Spotify. The Company has successfully proved its ability to assist users in discovering specific music for all occasions, grouped by real events in everyday life. Tunigo also lets music listeners keep track of the latest releases, charts, reviews and current music news. Since launching their music discovery app globally on the Spotify platform, Tunigo has become a leading destination for consumers to discover new music, a position which has been further reinforced since the launch of the Tunigo iPhone app.
About the Deal
GP Bullhound acted as the exclusive financial advisor to Snowfish AB on the sale of its subsidiary Tunigo AB (“Tunigo”) to Spotify AB.
Tunigo’s CEO and Founder Niklas Holmsten commented: “GP Bullhound has been instrumental in helping us raise two rounds of financing and ultimately drive the transaction with Spotify to a successful close. I am excited about the next phase of the Tunigo journey where we, together with Spotify, will continue to innovate to ensure that the music listener is offered the best possible music experience.”
GP Bullhound Co-founder and Managing Partner Per Roman commented: “It has been a privilege to work with visionary entrepreneurs such as Nick Holmsten and his Tunigo team. It has furthermore been a pleasure to negotiate with the Spotify team, all true innovators as well. I look forward as a consumer to experiencing the results of this wonderful combination between two great companies. The future of digital music looks bright.”