For those who don't want to shell out hundreds of dollars for a high-tech stereo like the Sonos, Gramofon should do just the trick.

Gramofon, part music streamer and part WiFi router, recently surpassed its Kickstarter goal of $250,000.

Here's how it works: you hook up your Gramofon to your existing stereo or speaker system. You then connect the box to the internet via its built-in Ethernet port or using your existing WiFi network. Next, simply connect your iOS or Android device to the Gramofon WiFi network.

Now you're ready to stream Spotify. Set-up literally takes less than five minutes, and it works flawlessly (we tried it). Spotify CEO Daniel Ek is also a fan.

Down the road, Gramofon intends to make it possible to play music from essentially any service — be that Spotify, Beats Music, Hype Machine, or Rhapsody. Another cool feature is that your Facebook friends can connect to your Gramofon network so that they can DJ too. Also, if your phone rings the music won't get interrupted. 

Gramofon will ship to backers in July. Those who missed out on the Kickstarter campaign will have to wait until the fall to get their hands on a Gramofon, which will retail for $99. 

Check out a 3D rendering of the Gramofon below.

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