Spotify Names Netflix Veteran Chief Financial Officer

Wall Street Journal: Spotify, fresh from raising over $500 million in funding, has hired a new finance chief. Barry McCarthy, a former chief financial officer at Netflix has joined the company as its CFO. McCarthy, who joined Spotify’s board last year, will give up that seat as he takes the operational role. Spotify has raised more than $1 billion from investors as the company attempts to fend off a growing group of challengers in digital music. McCarthy’s hiring could be seen as a step toward preparing for an initial public offering. The executive helped take Netflix public in 2002.