Klaus Hommels, the early Spotify investor and Lakestar founder. Hommels said there were three ingredients to merit the valuation he gave the company. According to Crunchbase, Lakestar most recently participated in a funding round for Spotify in 2012, since which the company has raised a growth round and debt financing.
Spotify listed out its major shareholders in documents filed to the US Securities and Exchange Commission in February, and Lakestar was not on that list.
Hommels wouldn't reveal his or Lakestar's stake, but it will amount to a small percentage of Spotify's overall business. The company has predicted it will have up to 96 million subscribers by the end of its fiscal 2018. We don't think we should sell."Īn earlier investor at GP Bullhound pegged Spotify's valuation at about $20 billion. This listing is a little time window in its journey. My clear view - and it's also the banks' view - is that Spotify should be a more than $100 billion business. have committed so many mistakes on your way by selling too early that the thing you learn is not to be influenced by momentary emotional overreactions. "If you are in the business as long as I am, you. The firm's founder and CEO, Klaus Hommels, who also invested in Spotify personally in 2008 before founding Lakestar in 2011, told Business Insider he was committed to a future vision of Spotify as a "$100 billion company" with an eventual subscriber base of 700 million users. When Spotify floats on the New York Stock Exchange on Tuesday, it's a chance for investors and insiders to sell their shares on the public market.īut there's one early backer that apparently won't be selling its holding: the European venture-capital firm Lakestar.
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