United States of Spotify

They said it would never happen, then they said it was too late, then there was a patent dispute which looks like it could derail it. But against the odds, it seems Spotify's US launch has been a massive success.

According to the latest reports, the company has picked up a whopping 1.4 million users in the US, just weeks after launch. Of course, free users are of limited value, but apparently an impressive 175,000 are paying for premium services, mostly to access music on their mobiles.

And the people whose job it is to understand these things, investors, also seem to think things are going well. The company's two most recent investment rounds, where private investors buy shares, valued the company at $1.1 billion. Not bad for a company many thought would only last six months.

United Kingdom - Excite Network Copyright ©1995 - 2022