TastemakerX, a US-based online platform where users can share and curate music, was been acquired by music streaming service Rdio on Monday for an undisclosed amount, providing an exit for AOL Ventures.
AOL Ventures, which acts as the corporate venturing fund for internet and media corporation AOL, invested in TastemakerX’s $1.8m series A round in February 2012, and its March 2013 series B, which raised $1.3m.
Other investors in TastemakerX include investment firms Baseline Ventures and Tekton Ventures, venture capital fund Alara Capital, VC firm True Ventures and financial services firm Guggengheim Partners.
Marc Ruxin, chief executive of TastemakerX, said: “We have always viewed Rdio as the most strategically aligned music platform to what we have been working on in terms of social and contextual music discovery. They have always put user experience and design at the forefront – we are thrilled to join forces.”
TastemakerX’s entire team will be incorporated into Rdio as part of the deal.
The deal was followed shortly afterwards by the acquisition of another personalised music streaming service, Songza, by internet company Google.