Aug 24
2009Hutchison buys into SpotifyView Comments

Hutchison Whampoa supremo, Li Ka-Shing, has confirmed a sizeable investment in Spotify.  This is exciting news indeed, as Forbes reports, there has been a lot of speculation about Spotify’s funding round target and today’s article indicates a possible market cap of USD 250 million for the company.

Early days yet but I would be suprised if Hutchison limit use of Spotify to their INQ mobiles, the much mooted Spotify app is no doubt the way to go. I wonder whether Apple will allow an app that competes with iTunes on the iPhone?

Spotify is perhaps the most exciting Internet music company in the world, certainly the first to offer a compelling version of FREE that challenges Bit-Torrent (without  intrusive advertising and with lots of useful social tools).

Let’s hope that Spotify expands it’s footprint outside of the UK.