Spotify: Celebrating a European Milestone Spotifiers are founding, building and investing in a new generation of European tech companies Founder Investor Builder Note: This is just a small selection of former Spotifiers that are now helping to build or invest in a new generation of companies. Due to constraints, it is not intended to be complete. Spotify is truly a game changer for the “ Spotify is truly a game changer for the entrepreneurial ecosystem across all of Europe. With a relentless focus on doing things better entrepreneurial ecosystem across all and differently, they successfully outcompeted even giants such as of Europe. With a relentless focus on Apple, Google and Amazon. The direct listing was another example of Spotify’s famous out of the box thinking. Having concluded that doing things better and differently, they the traditional and outdated way to IPO wasn’t optimal neither for the company nor its shareholders and prospective shareholders, they successfully outcompeted even giants embarked on a course few other companies would have dared - and succeeded. such as Apple, Google and Amazon. The founders Daniel Ek and Martin Lorentzon had decided already at the get go on April 1, 2006 to go big or go home. They were successful entrepreneurs already then and managed to attract the best talent around when they set out to disrupt a notoriously difficult industry Pär-Jörgen Pärson that had already claimed a number of startup casualties. They Northzone respected the rights-holders and managed to convince an industry to change its business model over a period of five years. Today, the music business is as healthy as ever, and Spotify enabled that change. I am so grateful and humbled to have played a role as first institutional investor and board member over 9 years in a seminal company.” 134 In Partnership with & www.thestateofeuropeantech.com www.thestateofeuropeantech.com