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Digital Top Stories
Spotify worth 230 million
By CMU Editorial | Published on Tuesday 17 August 2010
Documents from the Trade Register Of Luxembourg seen by Computer Sweden magazine apparently value Spotify at 230 million euros, up from a valuation of 190 million euros a year ago.
This is, I think, based on the amount of investment raised, including 11.6 million euros pumped into the digital music service by Napster co-founder Sean Parker, an investment which means the major labels are now business partners with one of the creators of the former record industry enemy number one, which is fun.
Of course, such valuations are a bit made up really and, while everyone still loves Spotify, many still remain uncertain about just how viable the whole thing will be once start up capital runs out. Some have also pointed to the recent departure of two senior execs – Lead Designer Rasmus Andersson and SVP Of Strategic Partnerships Paul Brown – as a sign the digital service’s honeymoon period is over, while some have speculated that continued delays for a US launch are causing tensions behind the scenes.
Though both Andersson and Brown insist they are leaving on good terms with Spotify, and are only leaving because they have been presented with irresistible new projects.
