Daniel Ek Invests $50 Million Into Spotify: 'I Believe Our Best Days Are Ahead'

Spotify co-founder Daniel Ek said on Friday that he's pouring $50 million into the music streaming service, driving its stock price up by more than 3% to a high of $108.98 per share during regular trading hours. From a report: The momentary rise, however, is a blip on the radar for Spotify, which has taken a beating this year -- in part over its recent, weaker-than-expected growth forecasts (just like plenty of other streaming and software firms). As for the reasoning behind Ek's purchase, the Spotify CEO wants you to know he believes. "I've always been vocal about my strong belief in Spotify and what we are building. So I am putting that belief into action this week by investing $50M in $SPOT. I believe our best days are ahead...," he said, adding that he didn't have to tell you about it, but wanted to.

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