Singapore-based social music making platform BandLab has acquired Chew.tv, a London-based livestreaming service for DJs, for an undisclosed amount.
However, it was reported that Chew.tv had been financially struggling for several months.
Following the acquisition, Chew.tv will be rebranded as “Chew by BandLab”, with its live-streaming technology integrated into BandLab’s web platform as well as Android and iOS apps.
“Chew by BandLab” will continue in its current model as a free platform, with a premium subscription option for the community’s creators, which includes stream forwarding, on-demand archiving and much more, the companies said in an announcement.
Chew.tv was launched in 2015 as a graduate of European accelerator Ignite, and has secured over 380,000 users. BandLab started in the same year. It claims to have almost 2 million users from some 180 countries.
“For the past two years, I’ve been closely watching the growth and development of this great platform and community of DJs. (…) With Chew in the BandLab family, it means we can deliver more great technology and a fantastic streaming product to our users,” said Meng Ru Kuok, BandLab’s CEO and co-founder.
This is the latest business consolidation move by the Singapore music making platform, following its takeover of US-based musical instrument accessories MONO in September 2016.