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Skype founder invests in car-sized aircraft: 'This is a really good example of founders who are using deep technology to take on a very big problem'
Niklas Zennström, Skype's cofounder, is backing a company building car-sized aircraft in Germany, called Lilium Aviation.
Music streaming service Spotify says its active monthly user base had grown to 100 million, with some 30 million paying listeners.
Founded in 2006, it’s now the world’s leading music streaming service, with almost three times more listeners than its closest rival, Apple Music. In fact, Spotify has more users than the five largest competitors combined.
Reuters said that the Swedish firm pays more than 80 percent of its revenue to record labels and artists and has not yet shown a profit as it spends to grow internationally. Last year, it made an operating loss of 184.5 million euros ($209 million), widening from 165.1 million in 2014.
Tech firms in Stockholm have helped enhance Sweden's reputation for business all over the world, and it's not surprising that a record amount of money was invested in Swedish startups last year.
Swedish parents in search of the latest Disney toy to treat their child will no longer have to leave the country to visit an official store.
Volvo Car Group, owned by China’s Geely, said on Friday it sold a record 503,127 cars last year, up 8 percent from the previous year.
"Now, with a successful 2015 behind us, Volvo is about to enter the second phase of its global transformation," Volvo Car Group Chief Executive Hakan Samuelsson said in a statement.
"Once completed, Volvo will have ceased being a minor automotive player and taken its position as a truly global premium car company."
For 2016 Geely Auto is aiming for a sales increase of 18% to 600,000 units which will be achieved by further strengthening the brand, introduction of several new key models, including SUV's, Crossovers and sedans and strengthening domestic and international sales networks, it said.
Sales were boosted by demand for its new flagship XC90 SUV model and strong growth in the United States and Europe.
The Stockholm-Uppsala region is famous for its advanced life science sector. GE Healthcare, which is a unit of General Electric, has announced plans to invest $100 million to expand its facilities in Uppsala, a city in the Stockholm region.
When Amazon Web Services (AWS) first launched its cloud-computing platform a decade ago, Swedish companies were among the quickest to adopt the service. Today, many of Stockholm’s most successful tech companies base their businesses on Amazon’s cloud web facilities.
Services like Uber and Airbnb are two major examples of young companies using new platforms to shake up established markets. It is no surprise that traditionally tech-savvy Swedes are embracing them.
The legacy of Alfred Nobel is more than just dynamite and the prizes awarded in his name. It’s also about innovation, creativity and entrepreneurship. These are values still visible in Stockholm, Nobel’s birthplace, with a multitude of cutting edge tech startups, like Spotify, Mojang and Skype.
The legacy of Alfred Nobel is of innovation and how to find solutions to current and future global issue that may arise. A new event platform – the Nobel Prize Series – aims to tackle issues such as how innovation can stimulate sustainable growth and how education systems have to change to meet future challenges.
- Stockholm’s Karolinska receives huge donation from Hong Kong
- Innovation driven co-working spaces pop up in Stockholm -- list of top spaces
- Fashion brands flock to new creative hub in Stockholm
- Spotify partners with Sony as music streaming battle heats up
- Jay Z challenges Spotify with Tidal streaming
- Volvo’s Chinese parent buys London taxi firm
- Minecraft founder newcomer on Forbes' rich list
- Stockholm a breeding ground for tech billionaires
- Top 10 events Stockholm's 2014 tech scene
- Swedish-Norwegian oil dreams come to an end
- Volvo Cars made in China on export to US.
- Minecraft Creator 'Notch' Outbids Beyoncé and Jay Z for $70M Mansion
- Video streaming firm Ooyala snaps up Videoplaza in SEK500 million deal
- Stockholm-Uppsala life science firms attract international investors
- Zennström invests in Truecaller
- Stockholm billionaire breeding ground -- the second most prolific tech hub globally
- Real estate investor: Sweden’s economy resilient since the recession, one of the best performers
- World's most expensive hotels -- 2 Chinese cities climb the rankings
- NEVS gets new Asian owner
- Germany wants more Swedish coal power, but state-owned utility Vattenfall has opposite plans