Spotify takes in $ 250 million - Business World

By: Elin Hanspers
Published November 22, 2013 08:14

Spotify has raised around 250 million dollars, equivalent to about 1.7 billion in new capital after a financing round.

writes the Wall Street Journal, referring to sources familiar with the investment.

The new capital was admitted to a total valuation of Spotify at over $ 4 billion.

capital will be used to enable Spotify’s expansion plans, which includes Japan included.

The lead investor in the financing round is the Silicon Valley-based Technology Crossover Ventures, TCV, according to the Wall Street Journal.

TCV has invested in, among other things, Netflix, Facebook, and Zillow.

Both Spotify that TCV has declined to comment on the findings.

By: Elin Hanspers
Email reporter

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