If Spotify is planning on executing an IPO in the near future, it’s certainly just hired the right person for the job.
McCarthy already serves on the board of Spotify, but will now give up his seat to take on a more active role.
The exec was CFO of Netflix when the streaming movie company floated in 2002.
He quit the company in 2010, but not before its stock price had increased considerably: between October 2004 and April 2009, Netflix’s share value more than quadrupled from $9.50 to $45.
Interesting sidenote: McCarthy (pictured) joined Pandora‘s board in 2011, but left just over two years later.
Earlier this month, Spotify raised a whopping $526m in new funding – taking its total lifetime investment to $1.1bn since it launched in 2008.
Spotify now boasts 20m paying subscribers around the world, from a total active user base of 75m.Music Business Worldwide