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Dropbox acquires Audiogalaxy, possibly hinting at a future cloud music offering

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Dropbox may be looking to introduce media streaming to its repertoire, if the company's latest purchase is anything to go by. The cloud storage company acquired music streaming service Audiogalaxy, according to a post on the company's blog. Audiogalaxy got its start in file sharing in the late '90s, but it recently relaunched as a legitimate peer-to-peer music service similar to Pandora. It's not completely clear how Dropbox will use Audiogalaxy: the blog post offers very little insight on the acquisition, with only a vague "We are excited about the opportunity to join the amazing folks at Dropbox and bring great new experiences to 100M+ Dropbox users." GigaOm and others speculate that the move is an acqui-hire which will bring expertise in media streaming to Dropbox's team, helping the company create a service like iTunes Match, Amazon Cloud Player, or Google Music. Everyone is still reading tea leaves at this point, however, though we have reached out to Dropbox to comment on the acquisition.