The main advantage and convenience of the platform was at the same time its main problem, which led to its closure – piracy. As a teenager, he actively listened to it through Napster, a music file sharing service where users could exchange music with each other and download songs. His grandparents, both former musicians, gave him a guitar at age 5 and literally instilled in him a love for music.
Programming wasn't Daniel's only passion, however – music was another.
They took lots of orders at low cost and made up to $50,000 a month. Since the age of 14, he's been building custom websites, first alone as a freelance programmer, and later he gathered a team of high school friends to work together. ( Also see: Spotify Said to Be in Advanced Talks to Buy SoundCloud)Įarlier this year, Lorentzon joined venture capitalist and Skype founder Niklas Zennstrom, former Finance Minister for Sweden Anders Borg and several other business leaders in signing an open letter calling for reforms in Sweden's education, tax and housing industries, and warned that failure to do so could force businesses from the Nordic region's biggest economy.Daniel has been an entrepreneur from childhood. It generated more than $2 billion in revenue last year but remains unprofitable. Spotify last month surpassed 40 million paying customers, and has 100 million monthly users including its free, ad-supported product. The outcome will help determine whether the company can bend itself toward profitability, as it currently pays most of its revenue back out in the form of royalties to labels and publishers. The company is in the midst of critical negotiations with record companies that will determine how much Spotify pays to carry music on its service. He's taking a page from other technology industry founders such as Facebook's Mark Zuckerberg - who maintain tight control over the leadership and direction of their companies - as he oversees a growing staff spread across Stockholm, London, New York and Los Angeles. "I look forward to another 10 years at Spotify as vice chairman," Lorentzon said.Įk is leading the company as it prepares to make its case to public-market investors and takes on a growing list of rivals, including Apple, Amazon and Pandora. ( Also see: Spotify Debuts in Japan, Complete With Karaoke Lyrics) Lorentzon will become vice chairman, he said Thursday on his Twitter feed. Martin Lorentzon, a co-founder of Spotify, is stepping down from his role as chairman after 10 years, a Spotify spokeswoman said in an e-mail. Spotify co-founder and Chief Executive Officer Daniel Ek is consolidating power over the world's largest music streaming service, taking on the role of chairman ahead of a planned initial public offering as soon as next year.
0 kommentar(er)
