Spotify is preparing for its listing on the New York Stock Exchange, with connections to Ludvig Strigeus, the developer of uTorrent, who was instrumental in Spotify's early development. Spotify once owned uTorrent, which it acquired in 2006 before selling it to BitTorrent Inc. shortly after. Strigeus's stake in Spotify is reportedly valued at over a billion Kroner, making him a multi-millionaire. Spotify launched its beta version in 2008 as an alternative to music piracy and has since become a billion-dollar enterprise, converting millions of users into paying customers. Initially, Spotify's service included a significant file-sharing aspect, utilizing P2P connections for streaming and incorporating pirate MP3s in its beta release. The acquisition of uTorrent provided crucial funding for Spotify's development.