Radio streamer TuneIn acquired for $175M

The acquisition of TuneIn for $175 million marks a significant shift for the company, which was once valued at $500 million. Founded in 2002, TuneIn distinguished itself by streaming traditional radio stations over the internet, contrasting with competitors like Apple Music and Spotify that focus on ad-free, subscription-based music. This acquisition underscores the evolving landscape of the music streaming industry, where traditional models are increasingly challenged by subscription services. The decline in TuneIn's valuation reflects broader trends in the market, as companies adapt to changing consumer preferences and the competitive pressures of digital music consumption.