Spotify probably wont be pursuing an IPO any time soon, as it’s emerged that the company is about to raise $500m investment from Goldman Sachs. That’s according to The Wall Street Journal, who reported on the music streaming company’s latest funding round on Thursday.
The company secured $250m investment from Technology Crossover Ventures in 2013, when Spotify was valued at $4bn at the time. According to an anonymous source, the latest round of funding, if followed through, could see it valued at at least $6 billion, but an official Spotify spokesman is yet to comment on the matter.
Spotify reports to have 60 million users, with 15 million of those paying for a premium subscription and the company has already scored a substantial streaming market victory this year, following new from Sony that its Music Unlimited service would be scrapped and replaced with Spotify.
The global partnership between Spotify and Sony will give the entire Playstation Network, with 64m users, access to Spotify via the new Playstation Music service, set for a spring launch.
Following that announcement, Daniel Ek, CEO and founder of Spotify, said: “We are incredibly honoured to partner with Sony and PlayStation to give gamers around the world an amazing experience wherever they listen to music. As a gamer and PlayStation 4 user myself, I’m super excited to be able to soundtrack my FIFA 15 Arsenal matches later this spring.”
Although Spotify faces competition from the likes of Deezer, Apple and Beats, Rdio, Rhapsody and Google Play, the series of recent moves made by the company could mean huge growth in 2015.
Via : [NYT]
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