[3][4] In 2014, Spinlet acquired a Nigerian Communications Commission license that will allow it to sell value added services such as caller ring back tunes and short message services in collaboration with Telcos as a means of providing more avenues for content creators/owners to get paid for their content.

In 2011, the app was acquired by a group of Nigerian investors represented by Verod Capital Management[6] led by Eric Idiahi, who became the first CEO of Spinlet.

Spinlet launched in beta in Nigeria May 2012,[10] as the first music streaming service and digital distribution firm in Sub-Saharan Africa.

[11] Spinlet operates under the freemium, model basic services are free, while additional features are offered via paid subscriptions).

It makes its revenues by selling streaming subscriptions to premium users and advertising placements to third parties.