Thirty-five-year-vintage Spotify Followers co-founder and CEO Daniel Ek is the tech industry’s most modern billionaire after the popular tune streaming carrier went public on Tuesday in a massive direct listing,
which valued the Spotify Followers business enterprise at over $26 billion on the near of its first day of buying and selling. Ek’s more or less 9 percentage stake is well worth nearly $2.Five billion.
But Ek is not any stranger to creatin In truth, the Swedish-born founder became aself-made millionaire at best 23 years
Riding the dot-com increase of the past due Nineteen Nineties, Ek had a side commercial enterprise designing
Ek instructed Sarah Lacy in a 2013 interview that he commenced out designing internet site home pages for pals, but he become soon charging as much as $five,000 to local businesses, and he subsequently made almost $50,000 in just a month.
(Neither surely knew who the opposite was then — after they eventually met in 2009,
he told FT. he enrolled in Sweden’s Royal Institute of Technology to look at engineering. bought to eBay.
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While he’d collected a small fortune at a younger age, Ek stated in 2014 that “no person teaches you what to do once you reap economic independence
He also served as leader era officer for Stardoll, a fashion-associated on line gaming business enterprise.He was just 23.
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But Ek instructed The New Yorker in 2014 that the way of life wound up making him “absolutely depressed.”
Difficulty in acquiring global licenses for track intended that Spotify couldn’t release within the U.S. Till 2011.
Ek also doesn’t genuinely view Spotify going public as the fruits of the enterprise’s increase, as the CEO stated Spotify is still “inside the early days” in an interview with CBS this week.
“We’re now a decade into that adventure. And I really just experience like we’re inside the 2d inning,” he stated.
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