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.

@anthony256
Published Thu, Jan 29 2015 6:38 PM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

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.

Spotify reportedly raising another $500 million in funding | TweakTown.com

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 SOURCE:mashable.com

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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