Stockholm-based Spotify, which provides free on-demand music
or ad-free tunes for paying customers, posted an operating loss
of 165 million euros, compared with a loss of 91 million euros
in 2013.
The company, founded in 2006 by Daniel Ek and Martin Lorentzon,
was reportedly valued at about $8 billion in a recent
fundraising.
It said the increased loss was due to substantial investments in
product development and international expansion, as well as an
increase in staffing.
Its sales grew to 1.08 billion euros in 2014 from 747 million a
year earlier.
The 2014 figures for its holding company Spotify Technology S.A.
were obtained by Reuters from the Luxembourg company registry on
Friday.
(Reporting by Johannes Hellstrom, Additional reporting by Sven
Nordenstam; Editing by Mark Potter)
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