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Spotify reportedly raising another $500 million in funding

Spotify was valued at $4 billion in late 2013, but it is now looking to raise another $500 million in funding
By: Anthony Garreffa | Business, Financial & Legal News | Posted: Jan 30, 2015 12:38 am

Spotify is continuing its streaming domination, where the music giant is reporting looking to raise an additional $500 million in funding according to a new report from The Wall Street Journal.

 

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The Journal is reporting that Spotify is discussing the financial deal with Goldman Sachs, but the streaming giant has not commented just yet. In its Series F round of funding in late 2013, Spotify was valued at $4 billion. The latest round of funding would see the company valued at around $6 billion, if not more, with some estimating that the company could be worth over $7 billion.

 

It was only earlier this month that Spotify announced it had 15 million paying subscribers, with over 60 million users in total. Even with those customers, Spotify posted a net loss of $80 million across 2014, with revenues of around $1 billion.

NEWS SOURCES:Mashable.com

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