About Spotify
Spotify is a commercial music streaming service that provides restricted digital content from a range of record labels and artists.
Headquarters
Spotify, Stockholm
Founded
2006-04-23
Industry
Audio, Cloud Computing, Music, Music Streaming, Podcast
Last Funding Type
Post Ipo Equity
Valuation
29.5
Total Funding
$2.09 billion dollars
IPO Status
Public
Financial
Funding Rounds
21
Number of Lead Investors
10
Total Funding Amount
$2.09 billion dollars
Number of Investors
53
Spotify vs. Other Decacorns
| Company | Valuation | Total Funding | Funding Rounds |
|---|---|---|---|
| Spotify | $29.5B | $2.09B | 21 |
| DFINITY | $2B | $166.88M | 6 |
| Wave (Financial Software) | $2B | $79.75M | 10 |
| CloudBees | $1B | $356.20M | 8 |
| Fusion-io | $1.5B | $111.50M | 3 |
| Datto | $4.3B | $100.00M | 3 |
| Active Network | $1B | $344.19M | 9 |
| Mellanox Technologies | $0.5B | $89.30M | 4 |
| Cohesity | $10B | $955.00M | 10 |
| Rubrik | $6.6B | $554.30M | 12 |
| Workato | $6B | $415.00M | 5 |
| Vox Media | $4B | $407.63M | 10 |
| Rubicon | $10B | $501.70M | 12 |
| Segment | $12B | $283.93M | 10 |
| Pure Storage | $3.1B | $529.26M | 8 |
| Kingsoft Cloud | $3B | $968.48M | 10 |
| Flatiron Health | $21B | $324.95M | 4 |
| SnapLogic | $5B | $371.30M | 10 |
| Everlaw | $2B | $298.60M | 6 |
| PagerDuty | $1.8B | $523.60M | 8 |
| TradingView | $6B | $388.75M | 11 |
| Patreon | $38B | $413.30M | 10 |
| Dapper | $8B | $4.00M | 2 |
| Youtube | $2B | $11.50M | 2 |
| Moveworks | $4B | $305.00M | 3 |
| Algolia | $25B | $334.22M | 8 |
| Salesforce | $1.1B | $65.38M | 7 |
| Box | $1.7B | $1.46B | 15 |
| Kong | $7B | $344.10M | 7 |
| Datadog | $7.8B | $1.02B | 9 |
| Contentful | $6B | $349.60M | 9 |
Growth Trends & Market Impact
Spotify reported record growth in 2023 despite layoffs and price hikes. The company swung to profit in Q1 2024 with 239 million premium subscribers and a gross profit topping $1 billion. User growth beat estimates, and international growth contributed to subscriber increases. Spotify's stock rose due to strong guidance and user growth, despite an earnings miss. The company achieved record profit in Q2 2024, growing premium subscribers to 246 million. Active user base grew to 615 million, and worldwide paid subscribers increased by 12% year over year. However, lower marketing efforts impacted user growth.
Investment history
| Round number | date | Post-round evaluation | investors |
|---|---|---|---|
| №1 | 10.02.2023 | $2.09 billion dollars |
ValueAct Capital |
| №2 | 25.02.2021 | $2.09 billion dollars | |
| №3 | 08.01.2018 | $2.09 billion dollars | |
| №4 | 10.06.2017 | $2.09 billion dollars | |
| №5 | 02.04.2017 | $2.09 billion dollars | |
| №6 | 10.08.2016 | $2.09 billion dollars | |
| №7 | 28.07.2016 | $2.09 billion dollars |
Manhattan Venture Partners (MVP) |
| №8 | 30.03.2016 | $1.00 billion dollars | |
| №9 | 21.01.2016 | $1.00 billion dollars | |
| №10 | 30.08.2015 | $1.00 billion dollars |