Spotify’s executive exodus is continuing. Jorge Espinel, who was head of global business development at the music streaming service, is joining startup insurer Lemonade as chief business development officer, according to a person familiar with the situation.
It’s interesting that Lemonade, an insurer that offers homeowners insurance powered by artificial intelligence and behavioral economics and whose investors include Softbank and Sequoia, has turned to a seasoned media executive to help it grow its business. Before joining Spotify, Mr. Espinel was executive vice president, strategy and corporate development at 21st Century Fox’s digital media group. Mr. Espinel will report to Lemonade CEO Daniel Schreiber.