Spotify
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Investors
Founders
About
Spotify is a music and audio streaming platform founded in 2006 by Daniel Ek and Martin Lorentzon in Stockholm, Sweden 1. The company went public via a direct listing on the New York Stock Exchange on April 3, 2018, bypassing a traditional IPO 2.
Funding History
| Round | Date | Amount | Lead Investor(s) | Key Co-Investors | Valuation |
|---|---|---|---|---|---|
| Series A | 2008-10-07 | $21.6M | Northzone | Creandum, Horizons Ventures, Li Ka-shing, Shakil Khan | — 13 |
| Series B | 2010-02-23 | $11.6M | Founders Fund | Sean Parker | ~€200M (~$270M) 6 |
| Series C | 2011-06-17 | $100M | DST Global | Kleiner Perkins, Accel | $1B 7 |
| Series D | 2012-11-14 | $100M | Goldman Sachs | Fidelity Investments, Coca-Cola, Digital Sky Technologies, Kleiner Perkins, Accel | $3B 89 |
| Series E | 2013-11-21 | $250M | Technology Crossover Ventures (TCV) | — | $4B+ 410 |
| Series F | 2015-06-10 | $526M | TeliaSonera | Goldman Sachs, Abu Dhabi Investment Council, Baillie Gifford, Discovery Capital, Lansdowne Partners, Rinkelberg Capital, Senvest Capital, P. Schoenfeld Asset Management, Halcyon, D.E. Shaw, GSV Capital, TCV, Northzone, Creandum, Founders Fund, Kleiner Perkins, Accel, DST, Fidelity, Coca-Cola, Li Ka-shing Foundation, Wellington Partners | $8.5B 1112 |
| Convertible Debt | 2016-03-29 | $1B | TPG, Dragoneer | Goldman Sachs clients | — 513 |
| Direct Listing | 2018-04-03 | $0 (no primary issuance) | — | — | $29.5B (opening) 214 |
What Investors Say
No independently sourced investor testimonials found.
What Founders Say
No independently sourced founder testimonials found.
Sources
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Northzone, “Spotify - The Impossible Success Story,” March 15, 2018. https://northzone.com/2018/03/15/spotify-impossible-success-story/↩↩
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Harvard Law School Forum on Corporate Governance, “Spotify Case Study: Structuring and Executing a Direct Listing,” July 5, 2018. https://corpgov.law.harvard.edu/2018/07/05/spotify-case-study-structuring-and-executing-a-direct-listing/↩↩
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Crunchbase, “Series A - Spotify,” accessed March 2026. https://www.crunchbase.com/funding_round/spotify-series-a–9ddc7d13↩
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TechCrunch, “Technology Crossover Ventures Funds All Of Spotify’s $250M International Growth Round,” November 21, 2013. https://techcrunch.com/2013/11/21/technology-crossover-ventures-spotify/↩
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TechCrunch, “Spotify raises $1 billion in debt with devilish terms to fight Apple Music,” March 29, 2016. https://techcrunch.com/2016/03/29/stream-with-the-devil/↩
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TechCrunch, “Sources: Spotify Takes Investment From Sean Parker At Founders Fund,” February 23, 2010. Accessed April 2026. https://techcrunch.com/2010/02/23/sources-spotify-takes-investment-from-sean-parker-at-founders-fund/↩
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The Next Web, “Spotify closes $100 million from high profile investors at $1 billion valuation,” June 17, 2011. Accessed April 2026. https://thenextweb.com/news/spotify-closes-100-million-from-high-profile-investors-at-1-billion-valuation↩
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TechCrunch, “Report: Spotify Has Closed A Massive Fifth Round Of Funding That Values It At $3 Billion,” November 14, 2012. Accessed April 2026. https://techcrunch.com/2012/11/14/spotify-3-billion-round/↩
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CNBC, “Spotify in Top League With $3 Billion Valuation,” November 15, 2012. Accessed April 2026. https://www.cnbc.com/2012/11/15/spotify-in-top-league-with-3-billion-valuation.html↩
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Hollywood Reporter, “Spotify Raises $250 Million For a Valuation of $4 Billion,” November 21, 2013. Accessed April 2026. https://www.hollywoodreporter.com/business/business-news/spotify-raises-250-million-a-659020/↩
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Tech.eu, “Spotify raises $526 million at a $8.5 billion valuation,” June 10, 2015. Accessed April 2026. https://tech.eu/brief/teliasonera-spotify-funding/↩
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Bloomberg, “Spotify Value Tops $8 Billion as Investors Bet on Streaming,” June 10, 2015. Accessed April 2026. https://www.bloomberg.com/news/articles/2015-06-10/spotify-valued-at-8-2-billion-as-teliasonera-buys-stake↩
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Fortune, “Spotify Raises $1 Billion in Convertible Debt Financing,” March 29, 2016. Accessed April 2026. https://fortune.com/2016/03/29/spotify-debt-financing-one-billion/↩
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CNBC, “Spotify (SPOT): Stock starts trading on the NYSE in non-IPO,” April 3, 2018. Accessed April 2026. https://www.cnbc.com/2018/04/03/spotify-spot-ipo-stock-starts-trading-on-the-nyse.html↩