Spotify to raise $100 mln at $3 bln valuation - report

Sat Nov 10, 2012 7:39am IST

Daniel Ek, CEO & Co-Founder of Spotify, addresses attendees during the International CTIA WIRELESS Conference & Exposition in New Orleans, Louisiana May 9, 2012. REUTERS/Sean Gardner/Files

Daniel Ek, CEO & Co-Founder of Spotify, addresses attendees during the International CTIA WIRELESS Conference & Exposition in New Orleans, Louisiana May 9, 2012.

Credit: Reuters/Sean Gardner/Files

Related Topics

Stocks

   

REUTERS - Spotify is in the middle of a $100 million financing round that could value the music streaming company at just over $3 billion, the Wall Street Journal reported citing sources.

The Journal said Spotify would raise the fresh capital from multiple investors including Goldman Sachs (GS.N). The WSJ report did not name any other investors. (r.reuters.com/mev83t)

Spotify has raised capital from outside investors several times since it set up shop in 2006, and was earlier reported to have been looking to secure a capital boost of about $200 million, at a valuation of about $4 billion.

Kleiner Perkins Caufield & Byers, Accel Partners and others have invested about $189 million in the company in its prior financing rounds.

The company has over 15 million active users and 4 million paying subscribers, for its on-demand service, which offers unlimited music streaming of some 18 million tracks. (Reporting by Himank Sharma in Bangalore)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

China's Twitter

REUTERS SHOWCASE

No-hire Trial

No-hire Trial

Tech workers seek to use Steve Jobs evidence in upcoming trial on no-hire accords  Full Article 

Apartheid-era Case

Apartheid-era Case

Ford, IBM to face renewed U.S. lawsuit over apartheid-era abuses  Full Article 

Online Banking

Online Banking

China issues banking rules to strengthen online payment security  Full Article 

Web Control

Web Control

China calls on Russia, central Asia allies to tighten Internet controls.  Full Article 

In Demand

In Demand

Microsoft's Xbox One sales cross 5 million.  Full Article 

Digital Currency

Digital Currency

Mt. Gox suitors seek support to save bitcoin exchange.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage