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Its objectives were to multiply revenues, double return on capital, and boost sales per employee by 33% before 2000.
Assuming revenues double again in 2011, a five billion-dollar valuation would amount to twenty times revenues on a trailing basis and ten times on a forward-looking basis, which seems more than a tad high.
The portrayal of Spotify as only being good for big artists is inaccurate: indie trade body Merlin said earlier this year that a third of its members had seen their streaming revenues double in the last year, and added that indies tend to over-index for market share on streaming services: in other words, people are seeking out the independent stuff, not just playing the big names.
Today the business has close to 100 staff in total, and is continuing to see its revenues double each year.
2016 saw Fintech market revenues double and the explosion of augmented reality with global Pokémon GO mania.
Amazon says that since introducing those in-app purchasing into apps earlier this year, some developers have seen their revenues double.
Similar(49)
Revenues doubled to £150.2m.
Siebel's revenues doubled every year.
Between 1985 and 1987, James Kennedy claims, revenues doubled.
Last year, its revenues doubled to $243 million.
Hotel room revenues doubled, to $100.4 million.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com