There’s some good reading to be had in the latest Forbes magazine cover story on Justin Bieber. Well, on Justin Bieber’s strategy of investing in startups, specifically. Having earned an estimated $108m over the last two years, the star is now sinking some of his cash into tech. “According to his manager, Bieber holds stakes in a dozen such companies,” explains the piece. “Forbes was able to verify four: messaging platform Tinychat, social-curation app Stamped, gaming outfit Sojo Studios and, most critically, Spotify, the disruptive music service.” Justin Bieber has a stake in Spotify? Intriguing. “Founder Daniel Ek recruited a handful of recording artists to buy in while seeking industry credibility ahead of his company’s U.S. launch last year,” explains the article, which also hints that Bieber’s decision to join video-sharing startup Viddy this month (Bulletin, 16-May-12) may also have involved taking a stake in the company.
Justin Bieber: Spotify investor
May 17th, 2012 by Music Ally