US-based iOS talk radio app Swell is to be acquired by Apple for a reported $30m, providing an exit for Google Ventures, the corporate venturing arm of internet company Google, Re/code reported on Sunday.
Swell compiles podcasts and radio shows and creates personalised user streams, but will cease all operations as part of the deal.
The acquisition is likely to result in Swell being absorbed into Apple iTune’s existing radio streaming service to better improve its own in-house podcast app. Swell chief executive Ram Ramkumar will now join Apple along with other key members of the Swell team.
Swell raised $5.4m in a Jul 2013 series A round led by Draper Fisher Jurvetson that featured Google Ventures, InterWest Partners, Correlation Ventures and Draper Nexus Ventures. It also secured $1.8m in seed funding in 2012 from Google, Charles River Ventures, DFJ, Andreessen Horowitz, Inspovation Ventures and assorted angel investors.