Sectors: Streaming Platforms Online Marketplaces, Entertainment Technology, Music Technology
CrossWork team member, Steve Ogunro, led secondary private opportunities involving Spotify
The current valuation of Spotify is approx. $45 billion as of publication Spotify is a commercial music streaming service that provides restricted digital content from a range of record labels and artists. Users can browse through the interface by artist, album, genre, playlist, record label, and direct searches. It also enables individuals to create, share, and edit playlists with other users. If users want recommendations, they can integrate their system with Last.fm, an application that provides music recommendations based on listening history. The radio feature installed in Spotify creates random playlists for its users that are related to preferred artists. Social media integration is a popular feature that enables users to connect their Spotify accounts to their Facebook and Twitter profiles. This enables them to access their friends’ favorite music and playlists and share their choices with others as well. Spotify users can purchase their preferred content through partner retailers. Spotify is available for mobile device platforms such as Android, Blackberry, Boxee, iOS, Linux, MeeGo, Squeezebox, Windows mobile, and more.
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Private equity investments, including ours, are risky, speculative, illiquid and carry the risk of loss of all capital.