Media

Spotify Raises $250 Million, Valued Above $4 Billion

Published on November 21, 2013
by John D. Stoll, Evelyn Rusli and Sven Grundberg

Swedish music-streaming company Spotify AB has secured nearly $250 million in new financing led by Silicon Valley firm Technology Crossover Ventures, valuing the company somewhere “north” of $4 billion dollars, according to multiple people familiar with the deal.

The latest round of funding comes as Spotify is looking to fuel its global growth strategy. While already established in many Western markets, including the U.S., Spotify is aiming to launch its service in some of the world’s highest-potential destinations for streaming music, including Japan.

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