One of our favorite companies over at PayStand is Spotify. For those of you that haven't used it, it's a music service that offers unlimited music for free or if you want added features, a small monthly subscription. If you walk into the PayStand office during the day, someone's Spotify playlist is usually playing ambiently in the background, and if you come in during the evening, it's pretty much always on, and it's volume level is, well, not-ambient. Since so many of us own Spotify subscriptions, we'll be the first to admit we are fanboys. And since we are fans of Spotify and good success stories in tech in general, it's been great to see all the recent news articles talking out about Spotifys pending IPO. Most of the conjecture is based on a recent job posting of theirs for a role that typically is only needed when companies are going or have gone public. Since Spotify has been growing at a phenomenal rate over the last few years, it's not really a surprise that they are likely going public in the next year or two. With revenue at $571 Million in 2012 (probably closer to a Billion now), and 24 million users, it's clear Spotify has been a run-away success. But as they say, hindsight is 20/20 and Spotify's success certainly wasn't always so likely.
on February 20, 2014