Lyrics database company Genius acquired by Medialab for £58 million, layoffs ensue - NewsBreak

Brooklyn-based lyrics database company Genius has been acquired by Medialab in a £58 million deal. Medialab, the app and media company which also owns Kik, Whisper, Datpiff, Worldstar Hip Hop and Amino among others, claims 80 million active users throughout its portfolio of websites and apps. However, as part of the acquisition, Medialab is laying off some employees of Genius.