Meng Ru Kuok, CEO & Founder of BandLab Technologies
BandLab Technologies announced on Wednesday the acquisition of beat marketplace Airbit for an undisclosed sum.
As the parent company of social music creation platform BandLab, digital audio workstation Cakewalk, and artist services platform ReverbNation, BandLab Technologies aims to expand its full-service creator toolset with the acquisition.
This will enable the company to provide “seamless access to all major elements of music creation, promotion, and distribution.” Its toolset currently includes free, mobile-first cross-platform DAW and the AI musical idea generator SongStarter.
Following the acquisition, Airbit users will continue to enjoy uninterrupted services and can expect a seamless integration of Airbit’s features into BandLab’s creator platform in the near future. As part of the deal, all current employees will be retained and Airbit CEO Wasim Khamlichi will step down after a transition period.
Also Read: Social music creation platform BandLab closes US$65M Series B round
According to a statement, to date, artists have earned over US$50 million on Airbit with over two million beats sold. The platform boasts a catalogue of more than a million beats from notable producers around the world, as well as emerging beatmakers, providing services for musicians to build sustainable communities and careers.
The acquisition expands the audience for current Airbit producers to millions of new customers around the world.
“We are thrilled to bring Airbit’s community to BandLab. We are continually looking for opportunities to support BandLab artists in their creative process, and this has been one of our communities’ most requested features,” says Meng Ru Kuok, CEO & Founder of BandLab Technologies.
“Thanks to companies like Airbit, self-serve beat marketplaces have become an exciting route for creators to find and purchase high-quality beats to kickstart their creative process. We’re excited to improve the user experience for our creators and introduce new ways for them to earn a living.”
Airbit CEO Wasim Khamlichi said, “Airbit shares BandLab’s ethos of allowing music makers every opportunity to find success. Airbit was started with the intent to empower creators as artists and entrepreneurs through new technologies and forward-thinking music monetization tools. Since Airbit was founded in 2009, it has grown to become a powerful platform for hundreds and thousands of creators. BandLab is best positioned to take it to the next level.”
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Image Credit: BandLab
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