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Spotify was founded in 2006 in Stockholm, Sweden, [16] by Daniel Ek, former CTO of Stardoll, and Martin Lorentzon, co-founder of Tradedoubler. [17] [18] According to Ek, the company's title was initially misheard from a name shouted by Lorentzon. Later they conceived a portmanteau of "spot" and "identify". [19]
[10] [6] Lorentzon had previously worked at and co-founded TradeDoubler, which acquired Ek's previous company Advertigo. [11] In October 2008, the company launched its legal music streaming service Spotify. Initially, Spotify ran on a peer-to-peer distribution model, similar to μTorrent, but switched to a server-client model in 2014. [12]
Because of these unplanned expenses, Lorentzon's share in Spotify turned out to be the largest. His option was estimated at more than US$4 billion; [12] he holds 43.3% voting rights [13] and owns 12.7% shares. [14] Hagnö decided to join in his former colleague's venture, and owns 6.6% of the shares worth US$1.5 billion.
In 2009, a friend showed him Spotify, a Swedish music-streaming service, and Parker sent an email to Spotify's founder Daniel Ek. [50] The pair traded emails, and in 2010 Parker invested US$15 million in Spotify.
The Ringer was launched in March 2016 by Bill Simmons, who brought along several editors who had previously worked with him on Grantland, an ESPN-owned blog he operated from 2011 to 2015. [2] At launch, the Ringer had a staff of 43 and focused primarily on sports and pop culture as content areas, with a few writers also working on technology ...
Fink co-founded BlackRock in 1988 after his departure from investment bank First Boston. He and his fellow co-founders focused on the buy-side of trading, and integrated investing with risk ...
Spotify Wrapped arrived on Wednesday, packaged in its usual neon, Instagram-ready glory. The annual release dominates social-media posts for a day, but beneath the colorful cards (designed to be ...
The company was founded in 2014 by Alex Blumberg and Matthew Lieber, who served as the company's CEO and president respectively until Lieber stepped down in 2022. In February 2019, Spotify announced it had entered into a definitive agreement to acquire Gimlet for $230 million.