The giant music streaming service Spotify Ltd is making plans to move to its new London office with the aim of doubling their workforce over the next two years. The move is made after the company decides to focus more on roles such as engineering, data and machine learning.
The company has completed plans to move to Adelphi building, a building with a nice view that overlooks the River Thames and is just a few steps away from Trafalgar Square and the Charing Cross rail station. The new office will see the company increase its current workforce by 100%, with the addition of further 200 staff to their already existing 200. The areas that will be staffed are the research and development unit.
Jason Richman, vice president of product at Spotify stated that “London will be one of our major hubs where we’ll house key investment areas including expansion of our subscription-commerce capabilities.”
This move is a further testament to the growth of London with tech industries pouring into the city to set up base. The British government on Tuesday unveiled plans to double the number of visas it is currently handling out to highly skilled workers, including technology-savvy candidates.
Some tech companies like Facebook Inc., Snap Inc., and Google have all announced that they are making plans to increase the number of staff they have in the U.K, while another tech giant Apple Inc. is taking up around 500,000 square-feet of office space at Battersea Power Station on the south bank of the Thames.
The new staff to be hired by Spotify in London will at first focus on engineering across front end, back end, machine learning, and data, while areas like design and research will come after that. London will be the latest city with a Spotify base, with the company already having offices in Stockholm, Gothenburg, New York, San Francisco, and Boston.
At the moment, Spotify is the biggest paid music platform in the world, with the company looking to skip the share sale and plunge directly on the NYSE. The company has been able to gather over $1 billion in equity and further obtained another $1 billion convertible loan from investors, with TGP heading the list.
The total revenue recorded by Spotify in the UK last year was around 237.8 million pounds, a figure that is an improvement from the 187 million pounds they recorded two years ago.