- Sweden edition
- Change edition:
- France |
- Germany |
- Norway |
- Switzerland
February 13, 2012
Music biz snapped up Spotify shares
Published: 7 Aug 09 13:48 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/21170/20090807/
Several major record companies own almost one fifth of the shares in the rapidly expanding Swedish online music streaming service Spotify, new documents reveal.
- Fresh capital to help fund Spotify's US expansion (4 Aug 09)
- Spotify aims for iPhone exposure (27 Jul 09)
- Spotify interview: The source of the stream (23 Feb 09)
This information was revealed in a document Spotify submitted to the companies registration office in Luxembourg, according to Computer Sweden magazine.
All together, the record companies purchased 18 percent of Spotify shares in October 2008 for the equivalent of 100,000 kronor ($14,000). According to Computer Sweden, Sony BMG now owns 5.8 percent, Universal Music 4.8 percent, Warner Music 3.8 percent and EMI 1.9 percent of shares in Spotify.
Founders Martin Lorentzon and Daniel Ek are the largest shareholders in the company, which is currently valued at around 1.8 billion kronor ($250.7 million).
Two Stockholm-based venture capital firms – Northzone Ventures and Creandum – reportedly invested around 130 million kronor in the company last year.
Spotify is planning an autumn launch in the US, and according to reports from the Financial Times, the company's new investors are the Hong Kong-based Li Ka Shing and British venture capitalist firm Wellington Partners. According to Computer Sweden, Wellington was reported to have purchased 66.7 million kronor in shares in July.
Spotify is a relatively recent addition to the market for legal digital music services. By not having users save digital music tracks on their computers, the streaming service avoids many of the copyright issues associated with downloading digital music files.
What do you think? Leave your comment below.
Fark It!
Digg This
Share everywhere
Send to a friend
Printable version
Twitter This
Saab shares dive despite strong 2011 report
Swedish defence group Saab on Friday reported a major boost in earnings for 2011 thanks to winning several major contracts, but a drop in orders left investors jittery, sending Saab's stock price down nearly 10 percent. READ (3 COMMENTS) »
Mats Sundin in massive kid's health research gift
Mats Sundin, the ex-Swedish hockey great, has made a donation supporting research into children's health at Karolinska Institutet in Stockholm and the University of Toronto. READ (5 COMMENTS) »
H&M under fire over Cambodia mass faintings
H&M has been criticized for choosing not to attend a hearing to highlight poor conditions for textile workers in Cambodia, where hundreds of employees at a plant run by the Swedish fashion giant mysteriously passed out in August. READ (6 COMMENTS) »
SAS earnings hit by Spanair bankruptcy
The bankruptcy of Spanair pulled SAS into the red for 2011, despite improved operating profits, the Scandinavian airline reported on Wednesday. READ (2 COMMENTS) »
Saab to cut Swiss Gripen fighter price: report
Swedish defence group Saab have announced that it will cut the price on its Gripen fighter jet to secure its Swiss order after a threat by French planemaker Dassault to undercut them. READ (6 COMMENTS) »
Few Swedes ready to work until they're 75: poll
An overwhelming majority of Swedes disagree with Swedish prime minister Fredrik Reinfeldt's suggestion that workers should be ready to stay on the job until they are 75, a new poll shows. READ (34 COMMENTS) »
Several bids for Saab: administrator
Several companies are interested in buying Saab, confirmed the bankrupt Swedish carmaker's administrators on Tuesday, while currently unwilling to disclose the identities of the bidders. READ (2 COMMENTS) »
US ISPs block hacker probes: Swedish police
The Swedish National Police Board has called for new international laws to catch hackers on the internet, after US internet service providers refused to divulge information on the weekend's attack on government websites. READ (5 COMMENTS) »
Fire brigade slammed for 'renting out' rooms
Emergency services in Gothenburg have come under fire recently after it came to light that a fire station had been renting out rooms to visiting colleagues. READ (2 COMMENTS) »
Kinnevik in bid to buy up publisher Metro
Swedish investment firm Kinnevik has made an offer to buy up Metro International, a global publisher of free newspapers. READ (2 COMMENTS) »
- 03/02 Volvo group announces record sales for 2011 »
- 03/02 TeliaSonera reports profit drop for 2011 »
- 02/02 Electrolux profits plunge amid weak demand »
- 02/02 AstraZeneca job cuts hit Södertälje hard (7 comments) »
- 02/02 Europe's banks set for years of 'shrinkage': Borg (2 comments) »
- 01/02 'Underclass-safari' post lands official in trouble (1 comment) »
- 01/02 Supreme Court denies Pirate Bay right to appeal (10 comments) »
- 31/01 ABB irked by link to Norwegian killer (2 comments) »
- 31/01 Sweden gets a seat at the eurozone table (8 comments) »
- 30/01 Five buyers 'seriously interested' in Saab (8 comments) »
20 things to know before moving to Sweden
As diverse as Sweden is, there are a few societal norms that are distinctly Swedish. Understanding a handful of them will hopefully prepare you culturally before you relocate. When you're invited home to a Swede, you better be on time and take your shoes off, writes expat Lola Akinmade-Åkerström. Read more »
How far can English take you in Sweden?
Sweden is a country where almost everyone can speak English. So why bother to learn Swedish? Edina Varnagy from Hungary managed with English for a whole year but then found that Swedish could open doors – to a job, a social life and greater understanding. Read more »
| 13/02 | Web Designer with good knowledge of usability alaTest.com |
Stockholm |
| 13/02 | Web developer to international company Ants AB |
Stockholm |
| 13/02 | Account manager/Sales representative Apsis Sweden AB |
SKÅ |
| 13/02 | Methods Engineer Bombardier Transportation |
Västerås |
| 13/02 | Office Manager to Hansoft Hansoft |
Uppsala |
| 13/02 | Store Manager Nike Randstad AB |
Stockholm |
| 13/02 | Desktop Area Responsible Academic Search |
Göteborg |
| 13/02 | Field Service Engineer Bio-Rad Laboratories |
Oslo |
| 13/02 | Energy & Revenue Controller Fortum |
Stockholm |
| 13/02 | HR Business Partner Bombardier Transportation |
Stockholm |
- 10/02 Berlin defies EU over copyright deal »
- 10/02 Germans don't trust Greece to tighten belt »
- 09/02 Tourists flock to Germany in 2011 »
- 09/02 Daimler books record €6-billion profit »
- 08/02 Exports top €1 trillion despite euro crisis »
- 08/02 GM threatens major job cuts at Opel »
- 07/02 Court caps Jewish ghetto pension claims »
- 06/02 Industrial orders rise amid eurozone gloom »
- 06/02 Former spy boss moves to Deutsche Bank »
- 06/02 China offers Merkel some comfort for Europe »
- 11:51 What is death?
- 11:48 Plumbing pipe fittings
- 11:41 Where do you live?
- 11:35 Supermarket frustration irks
- 11:22 Permanent residence permit and citizenship
- 10:54 Model kit specialist shops in Gothenburg!
- 10:44 Narcolepsy in children
- 10:33 Had problems with my boyfriend
- 09:47 Have you ever seen ghost in Sweden?
- 09:30 Amazon Kindle
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Therapy in English in Stockholm Trained in California Individuals & Couples (08) 93 81 48 FREE phone consultation
Visit anxiousorblue.se
The new Online Tennis Store with the largest selection of Babolat Products in Sweden
http://www.babolatshop.se
Turning Point Counselling centre offers the international community of Stockholm a safe space for personal development, counselling and coaching.
http://www.turning-point.se/show.asp
Swedish Down Town PR Consulting and Productions is an innovative business company which provides valuable assistance with Public Relations and Communications in the swedish and the international market.
www.swedishdowntown.com
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
British-Australian Male Counsellor. Counselling Therapy for Depression, Mental Health, Sex, Relationship & Expat Issues
08-559 22 636 or CLICK HERE
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.