The Deals: GRAI Acquires Social Music Platform Hangout; DICE Owner Fever Raises $250M
Also this week: Dan Loeb's Third Point increases its stake in Live Nation, MNRK acquires the Black Label Society catalog and more.
AI music company GRAI has acquired the social music platform Hangout, founded by the creators of Turntable.fm. GRAI aims to create an AI-powered streaming service that leverages Hangout's insights into social listening behavior alongside GRAI's technology and vision for consumer products. Hangout, launched in November 2024, offers users the ability to create listening rooms and play music for their guests.
It boasts a library of over 100 million songs, acquired through licensing deals with major labels and the indie rights group Merlin.
Andrei Avsievich, co-founder and president of GRAI, expressed his enthusiasm for the acquisition, stating that the future of streaming lies in social and co-creative experiences. He emphasized that GRAI's technology and consumer product vision align perfectly with Hangout's mission.
Joseph Perla, the founder of Hangout, shared his vision for the platform, explaining that he created Hangout to recreate the communal experience of listening to music with friends. He believes that GRAI's AI technology will help maintain the core belief of fostering human connection through music.
GRAI was established in 2025 by the team behind the AI video-editing app Vochi, which was subsequently acquired by Pinterest.
Written by urgent.news from Billboard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
