Patrick Frater Asia Bureau ChiefSpotify CEO Daniel Ek revealed that he is putting his money where his mouth is, releasing a Twitter message announcing that he will invest $50 million in the music streaming company.“I’ve always been vocal about my strong belief in Spotify and what we are building.
So I am putting that belief into action this week by investing $50M in $SPOT. I believe our best days are ahead..,” Ek said in a Tweet.I’ve always been vocal about my strong belief in Spotify and what we are building.
So I am putting that belief into action this week by investing $50M in $SPOT. I believe our best days are ahead…— Daniel Ek (@eldsjal) May 6, 2022The announcement came at a time when tech companies are falling out of favor with Wall Street.
Ek has sought to distance Spotify from comparisons with video streamer Netflix, which recently revealed that subscriber growth had plateaued.In late April, Spotify shares hit their lowest point ($95.22) since listing as a public company on the New York Stock Exchange.
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