Spotify Technology CEO Daniel Ek said he made a bid for London’s Arsenal Football Club that was rebuffed by American billionaire Stan Kroenke.
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Spotify Technology breached the mythical $50-billion market valuation barrier on Thursday. Unfortunately, investors seem a little out of tune with the music streaming service’s real potential.
Spotify built the world’s largest audio-streaming service by convincing millions of people around the world to pay for music. CEO Daniel Ek now sees an even bigger opportunity in advertising.
The streaming singularity has arrived, as the largest video service is making a show about the largest audio service.
Spotify shares fell as much as 5.1% in pre-market trading on Wednesday after the music streaming company reported slightly slower subscriber growth than investors had hoped.
Spotify has labelled Apple a “monopolist” as the competition row between the music streaming service and the technology giant continues.
Spotify has submitted a complaint against Apple to the European Commission arguing that the iPhone maker gives itself an unfair advantage by charging digital app rivals a 30% “tax” on purchases made through iOS.
It took more than three hours on Tuesday morning to get Spotify trading publicly, in a stock sale as unorthodox as streaming digital music once seemed. Spotify Technology’s shares – sold via a direct
Spotify will begin trading on the New York Stock Exchange on 3 April, just a week after the company plans to provide its most recent annual financial guidance.
The music-streaming subscription service
Outside Sweden, Daniel Ek isn’t a household name. That will probably change this year when the 33-year-old seeks to turn Spotify, the music streaming business he founded a decade ago in Stockholm, into a publicly traded company that