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Genius Acquired for $80 Million by MediaLab, Which Is Making Layoffs at Music Lyrics Company

Genius Media, the widely used lyrics-database company formerly known as Rap Genius, has been acquired by app and internet media holding company MediaLab for $80 million.

Genius confirmed its agreement to sell the company to MediaLab. “MediaLab’s commitment to investing in artists and fan-driven communities makes them the ideal partner to propel Genius forward,” Genius said in a statement to Variety. “Genius would not be where it is without the tireless efforts of our whole team. We are immensely grateful to everyone who has made Genius what it is today.”

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