Rdio has this week announced that they will be shutting the service down, after the company filed for bankruptcy.
As part of that bankruptcy Pandora will be acquiring the company’s key assets for $75 million, which they will use to enhance their own service with some of Rdio’s features.
Rdio explained more about the shut down in its blog post this week:
We’d like to update the entire Rdio community regarding today’s announcement that Pandora plans to acquire Rdio’s innovative technology and critically-acclaimed design. Pandora has been a pioneer in music streaming for the last decade and shares our passion for delivering the best service possible to music fans everywhere. We’re very excited to continue our tradition of delivering beautiful and powerful music experiences to an even larger audience.
Rdio’s service will not be interrupted today. We will have more updates in the coming weeks on what this process means for your Rdio account, but for the time being the service continues unchanged.
We couldn’t be more proud of the entire Rdio team and the product we have built. We’re honored to have connected so many listeners around the world with the music they love. We thank you for your continued support over the years and look forward to bringing you even better music experiences in the future as part of the Pandora team.
Source: Rdio blog