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April 13, 2012 03:53 pm GMT
Spotify's storming of the U.S. market last year has seen the company rack up a total of 10 million active users of its music streaming services. It projects revenues of $889 million this year, up 160 percent on 2011. But with that growth also comes growing losses which in 2011 doubled to the tune of around $60 million.Daniel Ek, CEO of the music streaming company, says in a candid interview with the Swedish financial paper Dagens Industri (translation here) that the question of when Spotify will show a profit is currently irrelevant. "Our focus is entirely on growth," he told told the publication. "That is priority one, two, three, four and five."
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/mWjrj0-UwQM/
Despite $889M In Revenue This Year, Theres No IPO In Spotifys Cards, Though Ek Wouldnt Say No To More Funding
Spotify's storming of the U.S. market last year has seen the company rack up a total of 10 million active users of its music streaming services. It projects revenues of $889 million this year, up 160 percent on 2011. But with that growth also comes growing losses which in 2011 doubled to the tune of around $60 million.Daniel Ek, CEO of the music streaming company, says in a candid interview with the Swedish financial paper Dagens Industri (translation here) that the question of when Spotify will show a profit is currently irrelevant. "Our focus is entirely on growth," he told told the publication. "That is priority one, two, three, four and five."Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/mWjrj0-UwQM/
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