Daniel Ek Biography, Net Worth – PeoPlaid Profile – Spotify

Daniel Ek

In late 2006, Daniel partnered with Tradedoubler’s cofounder Martin Lorentzon to form Spotify AG. They intended the company to offer music online to subscribers for free provided that visual or audio advertisement is allowed. However, the subscriber can choose to pay $5 or $10 a month for the service without any advertisement.

Initially, the service was not enthusiastically welcome by music producers because the license fee was very cheap compared with other music service providers such as Apple’s itunes. However, Daniel and his men patiently worked with them instead of against them. He promised to eliminate music piracy due to the low-cost alternative.
The legal music streaming website was launched in 2008. Since then, millions of subscribers lined up to the service and investors opened their wallets to become part of the startup. It has accumulated over 18 million songs in its database and still growing.

Source: Daniel Ek Biography, Net Worth – PeoPlaid Profile