Spotify grabs 175k paying US customers; valued at $1.1b
While this doesn’t quite stack up to the 15% conversion rate in Europe, which reports 1.6 million paying users for a total user base of around 10.6 million, it is still a massive feat for the company that launched in the United States just last month and continues to maintain an invite-only status for free access. Spotify’s nearest competitor in the US is Rhapsody, which has around 800,000 paid subscribers; however the gap between the two music streaming giants is closing rapidly.
Thanks to the huge success of Spotify in the US, the overall valuation of the company has jumped to $1.1 billion following $98 million in new deals from investors - this is despite thhttp://www.neowin.net/news/spotify-grabs-175k-paying-us-customers-valued-at-11be launch in the United States costing the company $98.15 million. Obviously investors like the looks of Spotify’s recent figures and the huge growth that it is currently experiencing in the United States; look out Google Music and iCloud.
http://www.neowin.net/news/spotify-grabs-175k-paying-us-customers-valued-at-11b
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L96A1Posted:
For those who don't have this, get it. I'm getting Premium soon. It's cheaper by a long run than iTunes.
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