Spotify to raise $100 mln at $3 bln valuation - report
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)
- Tweet this
- Share this
- Digg this
- Plague in Madagascar has killed 40 people out of 119 cases -WHO
- Widespread flooding ahead for snowy western New York: officials |
- U.S., Iran discussing new ideas to break nuclear impasse - sources
- Pakistani family sentenced to death over "honour killing" outside court
- Video streaming service Aereo files for bankruptcy
A U.S. judge on Friday gave final approval to Apple Inc's agreement to pay $450 million to resolve claims it harmed consumers by conspiring with five publishers to raise e-book prices. Full Article