Medialab Buy Genius

According to current sources, Medialab, the Los Angeles-based corporation, has purchased Genius, the lyrics database, for $80 million.

Genius started life in 2009, and since then, more than two million contributors have contributed material to the platform.

Tom Lehman, the co-founder of Genius, said: “MediaLab’s commitment to investing in artists and fan-driven communities makes them the ideal partner to propel Genius forward.”

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