# Spotify

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spotify

- Industry: Internet
- Headquarters: Stockholm, Sweden
- Website: https://open.spotify.com/
- Total disclosed funding: $1.1B
- Latest round: Series G (Jun 9, 2015)
- Investors on record: 26

## About

Spotify AB is a leading digital music streaming service providing access to millions of songs, podcasts, and audio content globally, enhancing user experience through personalized recommendations and curated playlists.Founded in 2006 by Andres Martinez, Avi Prabhakar, Diego Porto, Federico Ronzoni, Fortcast GG, Luis Vera, Luzy Jansen, Millie Bjork, Muhammad Saifuddin, Natalia Kania, Nattapol Koeiram, Niall Hannigan, Puja Fajariyah, and Álex Cid, Spotify AB is headquartered in Stockholm, Sweden. The company underwent a significant transition in business strategy, evolving from a free ad-supported service to various premium subscription models. Spotify has conducted 21 deals, with the most recent being an IPO in which it raised USD 7356.55 mn, totaling USD 7356.55 mn raised since its inception.Spotify is a digital music streaming platform that offers a vast library of songs, podcasts, and other audio content to its users. Its core product, the Spotify app, provides users with the ability to access, discover, and share music across various devices, including smartphones, tablets, and computers. Launched in 2008, Spotify addresses the growing demand for on-demand music streaming while offering personalized recommendations through advanced algorithms and user-generated playlists. The service aims to enhance the listening experience and cater to diverse musical tastes by curating content based on user preferences and listening habits. Spotify's customer base includes individual users, families, and students, with its offerings available in numerous geographical markets including North America, Europe, Asia, and parts of Latin America.In the most recent fiscal year of 2023, Spotify reported a revenue of USD 8659.05 mn and an EBITDA of USD 63825.17. The company generates revenue primarily through subscription plans and advertising. Offering multiple subscription tiers, including a free, ad-supported model, and premium plans such as Individual, Family, and Student subscriptions, Spotify ensures a diverse revenue stream. Premium subscribers enjoy an ad-free experience, offline downloads, and enhanced audio quality, further supported by partnerships and promotional collaborations.Spotify AB plans to leverage recent funding from Kairos Capital Group to enhance product offerings and expand into new markets. Future initiatives include the launch of new features and products aimed at enriching user engagement, alongside targeted expansion into emerging markets in Asia and Latin America by 2025. The funding will support the development of innovative services designed to meet diverse user demands and increase market penetration.

## Funding rounds

- Series G, Jun 9, 2015, $526M — Accel, Kleiner Perkins, TCV, Wellington Partners, Northzone, Coca-Cola Company, Discovery Capital Management, Founders Fund, Halcyon, Creandum, D. E. Shaw & Co, Fidelity Investments, Abu Dhabi Investment Council, Baillie Gifford, Li Ka Shing Foundation, Goldman Sachs Asset Management, Digital Sky Capital, GSV Asset Management, Lansdowne Partners, Telia Company, Senvest Capital, Manhattan Venture Partners, Rinkelberg Capital, Schoenfeld, K2 Global
- Series F, Nov 21, 2013, $250M — TCV
- Series E, Nov 14, 2012, $100M — Coca-Cola Company, Fidelity Investments, Goldman Sachs Asset Management
- Series D, Jun 17, 2011, $100M — Accel, Kleiner Perkins, DST Global
- Series C, Feb 1, 2010, $16M — Founders Fund
- Series B, Aug 4, 2009, $50M — Wellington Partners, Northzone, Creandum, Li Ka Shing Foundation
- Series A, Oct 1, 2008, $31M — Northzone, Creandum

## Investors

- Northzone (https://capitalatlas.ai/funds/northzone) — Series A, Series B, Series G
- Creandum (https://capitalatlas.ai/funds/creandum) — Series A, Series B, Series G
- Wellington Partners (https://capitalatlas.ai/funds/wellington-partners) — Series B, Series G
- Li Ka Shing Foundation — Series B, Series G
- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Series C, Series G
- Accel (https://capitalatlas.ai/funds/accel) — Series D, Series G
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series D, Series G
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series D
- Coca-Cola Company — Series E, Series G
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series E, Series G
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series E, Series G
- TCV (https://capitalatlas.ai/funds/tcv) — Series F, Series G
- Discovery Capital Management (https://capitalatlas.ai/funds/discovery-capital-management) — Series G
- Halcyon — Series G
- D. E. Shaw & Co (https://capitalatlas.ai/funds/d-e-shaw-co) — Series G
- Abu Dhabi Investment Council (https://capitalatlas.ai/funds/abu-dhabi-investment-council) — Series G
- Baillie Gifford (https://capitalatlas.ai/funds/baillie-gifford) — Series G
- Digital Sky Capital — Series G
- GSV Asset Management — Series G
- Lansdowne Partners (https://capitalatlas.ai/funds/lansdowne-partners) — Series G
- Telia Company — Series G
- Senvest Capital (https://capitalatlas.ai/funds/senvest-capital) — Series G
- Manhattan Venture Partners (https://capitalatlas.ai/funds/manhattan-venture-partners) — Series G
- Rinkelberg Capital — Series G
- Schoenfeld — Series G
- K2 Global (https://capitalatlas.ai/funds/k2-global) — Series G