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

Fri Nov 9, 2012 8:56pm EST

Nov 9 (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. The WSJ report did not name any other investors. ()

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.

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

A tourist takes a plunge as she swims at Ngapali Beach, a popular tourist site, in the Thandwe township of the Rakhine state, October 6, 2013. Picture taken October 6, 2013. REUTERS/Soe Zeya Tun (MYANMAR - Tags: SOCIETY) - RTR3FOI0

Where do you want to go?

We look at when to take trips, budget considerations and the popularity of multigenerational family travel.   Video