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Martin Lorentzon and Daniel Ek, co-founders of Spotify. Spotify.com
Spotify
Spotify launches in Ireland
Music streaming site gives users access to over 18 million music tracks for free
THE LONDON BASED music streaming company Spotify has launched in Ireland for the first time, heating up competition in a market where other companies offer similar services.
Offering over 18 million music tracks for free, users of Spotify can upload to the premium service for €4.99 a month in order to avoid advertisements and access unlimited music for streaming. For €9.99 users can sync tracks to tablets, smart phones and other mobile devices.
Eircom offers a similar free service to it broadband customers through the Eircom Music hub, while French based service Deezer has 15 million tracks to offer users.
Founded in 2006 by Stockholm native Daniel Ek, Spotify was recently valued at $3bn (€2.3bn), the Wall Street Journal reported. Last year it raised $100m from venture capitalists and is now raising a further $100m from several investors, including the investment bank Goldman Sachs.
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