Spotify could soon be worth 8.4 billion dollars
According to a report, the world's largest music streaming service Spotify wants to raise fresh money from investors and could thus increase its value to 8.4 billion dollars. Spotify wants to raise 400 million dollars in a new financing round in the coming weeks.
The investors include the investment bank Goldman Sachs and a fund from Abu Dhabi, as reported by the US business newspaper Wall Street Journal. A spokesperson for the US bank declined to comment on the report when asked. With Spotify, music tracks can be selected from an extensive catalog and listened to free of charge via the Internet. Advertising is played and displayed - unless a user opts for a paid subscription. Founded in 2008, the service claims to have 15 million paying customers. A further 45 million music lovers use the service free of charge. (SDA)
