The UK-based company's name is a combination of spot and identify and the 26-year-old Ek has certainly done that with a niche in the music industry.
The service is funded by advertising but the balance of the technology and ads seems to have been the right one while there is also a subscription-based service that does away with the ads.
Ek has a track record of online entrepreneurship having previously founded online advertising portal Advertigo, which he sold to Trade Doubler in 2004, the money from which he used to start Spotify. He's also been CTO for virtual teen community site, Stardoll.
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