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Spotify's new London R&D hub to create nearly 300 jobs

Matthew Field
Spotify's new research hub in London - Steven Paston

Spotify has opened up a new research and development hub in London that the music streaming giant said will create close to 300 new jobs in the capital.

The Swedish company confirmed it would move staff into the Adelphi Building near the Strand on Tuesday.

Spotif, which is listed in New York and has a market value of over $25bn, has grown rapidly from a music streaming upstart into a global firm with more than 4,000 staff. A spokesman said 550 people would be based in the new London office, up from around 260 current roles.

The new research team will be the company's first major technology division outside of its home base in Sweden and its offices in the US.

Spotify UK managing director Tom Connaughton said: “As one of Spotify’s biggest markets, it makes perfect sense to expand our team here, and to tap into the large and diverse talent pool to be found in London."

The Swedish company joins several other technology giants expanding their UK presence. Google, Facebook and Amazon have all built up their UK presence heavily.

Last year, Facebook said it would double its UK office space in London, creating enough space for 6,000 people near Kings Cross.

Google, meanwhile, is building a new £1bn headquarters that will have room for some 4,500 UK employees.

Mayor of London Sadiq Khan said: “London is the best place in Europe for tech companies to find a wealth of diverse talent. Spotify’s expansion is a further sign that London is open to ground-breaking technology.”

In February, Spotify announced it had made its first ever profit of around €94m as it continued to grow the free and subscriber memberships of its music streaming app. The Swedish firm floated in New York last year at a valuation of $30bn.