Spotify founder Daniel Ek promises $1bn investment in “super companies”

Spotify’s founder and CEO, the highly successful Daniel Ek, is promising huge new investment in “super companies that raise the bar”.

Spotify are one of the most notable tech startup success stories, amongst many that have spawned in the 21st Century. They have spread their vision globally and lead a revolution that has reinvented the music industry.

With the knowledge of how powerful investment and belief in a new product can be, Daniel Ek – the founder and CEO of Spotify – is looking to give back to new startups and entrepreneurs in Europe. He says: “I want to do my part; we all know that one of the greatest challenges is access to capital.”

Ek has pledged $1 billion in investment over the next 10 years in up and coming deeptech projects or “moonshot projects”. These include machine learnings, biotechnology, materials sciences and energy companies and ideas.

Ek adds: “I get really frustrated when I see European entrepreneurs giving up on their amazing visions selling early on to non-European companies, or when some of the most promising tech talent in Europe leaves because they don’t feel valued here.”

One of Spotify’s earliest investors, Shakil Khan, has tweeted out his support suggesting that he is coming out of retirement to help Ek achieve their “European Dream”. Khan invested nearly half of his net worth in Ek and Spotify with a belief in the company and so knows full well the potential in burgeoning companies when given the chance.

Ek continues: “Europe needs more super companies, both for the ecosystem to develop and thrive; but I think more importantly if we’re going to have any chance to tackle the infinitely complex problems that our societies are dealing with at the moment, we need different stakeholders, including companies, governments, academic institutions, non-profits and investors of all kinds to work together.

“We need more super companies to raise the bar and can act as an inspiration… There’s lots and lots of really exciting areas where there are tons of scientists and entrepreneurs right now around Europe.”

Jacca-RouteNote
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Writing about music, listening to music, and occasionally playing music.

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