The Fastest Startup To Reach A Million Users

Fremont: Gone are the days when companies used to take a year or more to hit the millionth customer mark. Kickstarter, Airbnb, Tumblr, and Twitter took over a year to hit the ‘one million’ benchmark. These days startups are trying to break each others’ records to reach the millionth customer at the earliest. Here are the fastest startups to have crossed the millionth mark.

Spotify

Spotify is a music streaming service, which streams major and independent record labels. It was founded in 2006 by Daniel Ek and Martin Lorentzon. The service was launched in September 2008 and reached one million users within two weeks of its launch. It integrated its services with Facebook, which meant that the Spotify users were required to have an account with the social networking site. The move initially caused an outcry from the existing users, but the decision paid off with Spotify gaining a million customers immediately. It currently has more than 10 million users worldwide, with one fourth of them being paid subscribers. The growth proves that collaborating can go a long way in defining your startup’s success.

The company had raised $100 million from DST, Accel Partners, and Kleiner Perkins in June 2011, bringing its total funding to $183 million. Its other investors include Creandum, Northzone Ventures, Li Ka-shing, Wellington Partners, Sean Parker, and Founders Fund.