Around the Net

Spotify May Need More VC Cash

Spotify more than doubled its revenue through 2011/12 after expanding to new countries like the U.S.. But the cost of doing so ballooned by the same proportion. The company spent 97% of the the €187.8 million it earned. So annual loss widened to €45.4 million. In its 2011/12 Luxembourg filing, the company acknowledges: “In a low-margin business dependent on rapid growth to cover fixed costs, it is crucial that the group continues to penetrate existing and new markets as quickly as possible…”

Read the whole story at »

Next story loading loading..