Google buys Songza as streaming arms race heats up

Songza showed just how easy it was to break into the streaming music market when it debuted its popular concierge feature in March 2012. Just six months later, the Queens-based startup had reached 2 million users and $1.5 million in funding.

Google announced on Tuesday an agreement to acquire the music site for an undisclosed term, although the total is said to be much more than the $15 million valuation reported last month before the deal was finalized, according to Forbes.

A competitor of Pandora and Spotify, Google's purchase follows Apple's $3 million buyout of Beats, which includes a headphone line and Beats Music service, and Aamazon's Prime Music announcement.

Read more from Forbes.