Three of the four members of the group, Benny Andersson, Bjorn Ulvaeus, and Agnetha Faltskog, were stars in their native country of Sweden during the late 60's. Anni-Frid Lyngstad was up and coming as well, but not as well known as the others. As Benny and Bjorn began to work together as a songwriting team, both men showed great interest in producing. They both had a desire to make a sound that was reminiscent of Phil Spector. Although the music would steer away from that as time went on, their first massive world-wide hit shows this deep influence.
"Waterloo" reached #6 here in the states and would be their biggest hit stateside until "Dancing Queen" reached the top over two and a half years later.