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Spotify

What
A music service that is helping to change the way listeners think about the concept of a personal music collection. Spotify provides subscribers with access to a large music library, available on PCs, smartphones, tablets and other home entertainment systems, without subscribers ever owning a single track.

Disrupting
The music market.

Spotify
Source: Spotify

Headquarters: London
CEO: Daniel Ek
Year Founded: 2006
Number of Employees: 800
Funding: Company declined to provide, but cited public reports valuing it at more than $3 billion, based on an estimated $188 million raised in funding.
Key Investors: Founders Fund, Digital Sky Technologies, Kleiner Perkins Caufield & Byers and Accel Partners

Vital Stats

  • Sean Parker is an investor, and has said Spotify will finish the job Napster started
  • On the first day of Twitter's music service, Spotify beat out iTunes among Twitter users
  • No profit, investing heavily in R&D and international expansion
  • More than 6 million paying subscribers
  • Over 24 million users
  • Available in 28 countries
  • 20 million songs with 20,000 added per day
  • 1 billion user playlists created
  • Advertisers include Coca-Cola, McDonald's, Chevrolet, Best Buy, Bacardi, Gillette and eBay

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