Spotify Reportedly Close To $100 Million In New Financing
November 12, 2012

Spotify is reportedly close to finalizing $100 million in financing that would bring the digital music service's value in at just over $3 billion. The Wall Street Journal reports the investment in Spotify would come from multiple sources, though Goldman Sachs was the only one named by the paper.

In a previous round of funding last year, Spotify raised approximately $100 million, leading to a $1 billion value. CNet notes that at one point, the company was aiming for a $4 billion value but has pulled back from that target.

Billboard.biz also reports that Spotify is planning an expansion into Latin America and Eastern Europe into 2013. The company is now advertising to hire staffers in new markets including Mexico City and Poland.




 
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Jeff Sottolano
Director of Programming
CBS Radio

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