Week 3 EOC: Spotify

SPOTIFY- The European start-up, which is backed by digital entrepreneur and Facebook founding president Sean Parker, has grown fast in recent months since launching in the United States and sealing a partnership with Facebook. Digital music streaming service Spotify may see revenues top 6 billion Swedish crowns ($889 million) this year as it pushes ahead with its rapid expansion on both sides of the Atlantic, founder Daniel Ek said in a newspaper interview. "Our focus is all on growth. That is priority one, two, three, four and five. But of course we expect to make a profit in the long run," he was quoted as saying. "We want to build this company over the long term. Therefore the stock market is not an alternative for us," he said.
This man has a plan, and it is being put forth with the best inentions. The next big thing? its already big if your company is valued over a billion dollars. Spotify has raised capital from outside investors several times since it set up shop in 2006 and there have been recent media reports it was looking to secure another capital boost of around $200 million, valuing Spotify at about $4 billion. Look out for Spotify.