Preact, Backed by LA Investors, Acquired By Spotify

Preact, a San Francisco startup which is backed by a number of LA investors, has been acquired by Spotify, Spotfy announced this morning. Financial terms of the acquisition were not disclosed. Preact had been backed by Karlin Ventures and Launchpad LA, plus Trinity Ventures, Root Ventures, Atlast Venture, Bee Partners, Boldstart Ventures, and Harmony Partners. Preact had been based in Los Angeles, where it was part of Launchpad LA, but was quickly moved to San Francisco after its participation in that program. The company built software to help companies reduce customer churn.