3 owner invests in Spotify

3 owner invests in Spotify

26 August 2009

Hutchison Whampoa buys a stake in web-based music service

Reports have reached us that Hutchison Whampoa, the company that not only owns the 3 mobile service but also manufactures the INQ range of handsets, has taken a financial stake in Spotify, the web-based music service.

Spotify is the internet music service that provides web-based streaming of music based on both paid and free content (in Western European territories).

According to the IDG website, despite the actual figure invested into Spotify being unknown, what we do know is that INQ's chairman, Frank Meehan, will have a place on Spotify's board, representing Hutchison Whampoa.

What affect the direct connection with Hutchison Whampoa will have on Spotify is remains to be seen. However, it is safe to assume that, with the INQ chairman on the board, the future range of INQ phones will include some form of direct access to the service.

Click to read the IDG story