Founded by Daniel Ek in Stockholm in June 2006, Spotify has changed the way artists distribute music, and the way the world. discovers and listens to it. When the audio streaming platform launched in 2008, the recording industry was in decline, and Spotify’s “all-you-can-eat” subscription model was far from proven. But from early on, the company focused on this unique approach to universal music access alongside its personalized playlist curation features as differentiators for consuming music. At the heart of it, Spotify ultimately created a flywheel of discovery and engagement.
Accel led Spotify's June 2011 financing prior to its launch in the US. In 2018, Spotify went public on the NYSE via direct listing (NYSE: SPOT). But their success as a Stockholm-based company underscores our investment philosophy, and belief, that ground-breaking technology companies — and great founders — emerge from. all over the world.