Andreev and his team came up with the idea for Stereo after the MagicLab deal was completed early this year, taking inspiration from radio talk shows with the aim of revamping the format for smartphone users.
They developed the startup during the pandemic lockdowns. The U.K., where Andreev lives, again finds itself in that situation until December. That’s putting pressure on many businesses, but Andreev said he’s in no rush to recoup his investment.
“I’m not thinking about monetizing it right now,” he said. “We’re focused on building a global community.”
This article was provided by Bloomberg News.