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Looks like they haven't yet turned it into profit though http://www.nytimes.com/2015/05/09/business/media/as-spotify-expands-revenue-rises-and-losses-deepen.htm

• marincounty 11y ago
  I thought I lived near the guy who invented Spotify in Marin county? He has definetly made quite a profit off Spotify?
  • stephenhess 11y ago
    There's a difference between generating business value and generating profit. It's common for founders to get liquidity during financing events and this typically involves a sale of equity (i.e. transfer of business value from the founder to another stakeholder). This is distinct than the company becoming profitable; many companies will increase in value while not being profitable. The original commenter is making this comment I presume because he/she thinks Spotify is a mature enough business where it should be generating profits instead of operating at a deficit in order to grow and grab market share.
  • kunaalarya 11y ago
    you're probably thinking of Pandora's CTO who has a gorgeous house there. Spotify's founders are from/live in Sweden.