Spotify is threatening to move its headquarters from Sweden to the United States. The company recently penned a post to Medium where it was titled “We must act or be overtaken!”
The company is worried that, while Sweden offers startups “plenty of momentum” it hasn’t provided enough options for the company or its employees to grow as rapidly or as strongly as it has hoped. If Sweden doesn’t change some rules, like allowing employees to receive generous stock options, affordable rental homes and a great education system, then Spotify says it will pick up and move its company to the United States.
Spotify specifically pointed to the lack of programming available in elementary schools as one obstacle to its future. For housing, it’s worried that there aren’t enough rental options and that, as such, employees are forced to look at “expensive condominiums” instead of monthly apartments available in places like “New York, London and Singapore where the opportunities to rent housing is very simple.” Finally, Spotify is worried it can’t attract top talent without great stock options. “The tax rules in effect in Sweden makes it impossible to stock options is well known and therefore an investigation worked on this issue for several years,” Spotify argued.
“[Spotify] requires urgent action, otherwise Stockholm and Sweden lose in global competition. And more concretely, thousands Spotify jobs [will move] to the United States instead of Sweden.”