Coca-Cola Invests In Spotify
November 15, 2012

Earlier this week, it was reported that Spotify was close to finalizing $100 million in financing that would bring the digital music service's value in at just over $3 billion. As of Monday, Goldman Sachs was the only investor identified, but now The New York Times reports that Coca-Cola and Fidelity Investments are two other investors involved in the financing round.

The Times' sources say roughly half of the $100 million investment comes from Goldman Sachs, with about 10 percent from Coca-Cola and 15 percent from Fidelity. The remaining 25 percent is coming from Spotify's existing investors.

The paper notes that earlier this year, Coke and Spotify announced a marketing partnership but no specifics were ever revealed beyond a promise to help the digital music service expand globally into new markets.

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Manny Simon
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Republic Records

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