Spotify in Talks to Buy Podcast Company Gimlet for More Than $200 Million in Cash (Report)

Gimlet is home to podcasts “Reply All” and “Homecoming”

Last Updated: February 1, 2019 @ 4:12 PM

Music-streaming giant Spotify is in talks to buy podcast startup Gimlet Media, The Wall Street Journal reported on Friday. Recode reported the price tag to be north of $200 million.

Based in Brooklyn, Gimlet is the home to “Homecoming,” which was adapted into an Amazon TV series starring Julia Roberts. Other popular podcasts there include “Reply All” and “Crimetown.”

A spokesman for Gimlet declined comment on this story. Reps for Spotify did not immediately respond to TheWrap’s request for comment.

Gimlet last raised funding back in 2017. At the time, the round valued the company at $70 million.

Spotify, which boasts 200 million users, has been trying to plant its flag into the podcasting space as of late. The publicly traded company’s (SPOT) current market cap is just below $25 billion.

Gimlet Media was co-founded in 2014 by former “This American Life” producer Alex Blumberg and ex-Boston Consulting Group consultant Matthew Lieber.