The founder of Spotify reported that the industry was large enough to afford not to be number one in the sector, thereby dismissing the threat posed by Apple.
The founder of streaming music service Spotify reported that the industry was large enough to afford not to be number one in the sector, thereby dismissing the threat to their business the company with the highest market capitalization in the world.
“For me it is enough to be in the top three,” said Daniel Ek Swedish magazine Dagens Industri business in an interview published on Thursday, the first after Apple launched its streaming music service in an overflowing industry competitors.
“But now we have an advantage of being number one in music,” Ek, who is also chief executive of the company, adding said his ambition was to maintain this position.
The Swedish company, which is unlisted increased its revenue last year 45% to 1,080 million euros (1,220 million) and recorded an operating loss of 165 million euros.
The US competitor Pandora Media grew at a similar rate and announced revenue of $ 921 million.
In an apparent response to the launch of Apple Music, Spotify on Wednesday published a note in your blog thanking their customers, saying he now had over 20 million subscribers and more than 75 million active users, about double compared to a year ago.
In order to fill their coffers to invest and grow, Spotify closed this week a round of funding with which captured $ 526 million, reported the Wall Street Journal, while the operator of Swedish telecom TeliaSonera said it had bought a stake of 1.4%, valuing Spotify at 8,200 million dollars.
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