Jan
28

Spotify Is Said to Be Seeking $500 Million in New Funds

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Spotify is looking to raise at least $500 million in new funding to continue its global expansion and compete with powerful outlets like Apple, Pandora and Google, according to a person briefed on the company’s plans.

Spotify, whose free and paid subscription plans have been a major driver of the rise of streaming music, has raised more than $1 billion since the company was founded in 2006, and was last valued by its investors at $8.4 billion. But in its latest round of fund-raising, it is seeking to raise $500 million through a debt offering, in which investors will gain the right to convert their notes to equity, according to the person, who spoke on the condition of anonymity because the company’s plans were private…

Spotify Is Said to Be Seeking $500 Million in New Funds

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