Airbit, a beat marketplace with its headquarters in the US, has been purchased by BandLab, a Singapore-based music company. The deal’s financial specifics were kept confidential.
After a transitional time following the acquisition, Airbit CEO Wasim Khamlichi will retire. Along with BandLab, Airbit will keep its present staff.
In the near future, the creation platform at BandLab will incorporate capabilities from Airbit. According to a statement from the firm, these features will increase access to music production, marketing, and distribution for musicians using BandLab.
According to BandLab, over 2 million beats have been sold on Airbit, and musicians have made over $50 million in total. It joins previous music businesses BandLab has bought, such as Cakewalk and ReverbNation.
The BandLab platform, which was introduced in 2015, enables users to make music for free, work with other musicians, and establish more direct contact with their audience.
The music company has so far revealed raising US $65 million in total.
