GP Bullhound advises on the sale of Tunigo to Spotify

GP Bullhound, the technology investment bank, has acted as the exclusive financial advisor to Snowfish AB on the sale of its subsidiary Tunigo AB (“Tunigo”) to Spotify AB.

Based in Stockholm, Sweden, Tunigo is a leading destination for digital music discovery. It offers an easy and fun way to find, create, and share new music and playlists on Spotify. The Company has successfully proved its ability to assist users in discovering specific music for all occasions, grouped by real events in everyday life. Tunigo also lets music listeners keep track of the latest releases, charts, reviews and current music news. Since launching their music discovery app globally on the Spotify platform, Tunigo has become a leading destination for consumers to discover new music, a position which has been further reinforced since the launch of the Tunigo iPhone app.

Tunigo's CEO and Founder Niklas Holmsten commented: "GP Bullhound has been instrumental in helping us raise two rounds of financing and ultimately drive the transaction with Spotify to a successful close. I am excited about the next phase of the Tunigo journey where we, together with Spotify, will continue to innovate to ensure that the music listener is offered the best possible music experience."

GP Bullhound Co-founder and Managing Partner Per Roman commented: "It has been a privilege to work with visionary entrepreneurs such as Nick Holmsten and his Tunigo team. It has furthermore been a pleasure to negotiate with the Spotify team, all true innovators as well. I look forward as a consumer to experiencing the results of this wonderful combination between two great companies. The future of digital music looks bright."

This represents the completion of GP Bullhound’s 21st transaction in the last twelve months and further highlights our commitment to supporting category leaders with great ideas and global potential. GP Bullhound´s Sidecar Fund was also an investor in Tunigo.