Spotify investors hoping for a big pay day better hope that the music streamer has a very successful IPO. That's because CEO and founder Damiel Ek says that he'll never, ever sell out to one of the internet giants that might have the cash to afford to buy.____________________________________
At a technology and music conference in Stockholm, Spotify CEO Daniel Ek said that his fellow European entrepreneurs selling their companies to large U.S. businesses is holding back the EU's technology sector, according to Bloomberg News.
"Not going to sell, no," Ek said. "My biggest advice for entrepreneurs is don’t ever sell" Strong words from the CEO of a money losing company.
"All of these things could grow to be gigantic if the founders wouldn’t sell," Ek continued referring to King Digital Entertainment which sold to Activision for $5.9 billion last year and Minecraft developer Mojang which was bought by Microsoft for $2.5 billion in 2014.
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