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.”
