Spotify AB has successfully secured about USD 250 million in new financing that values the music-streaming company much higher than USD 4 billion, according to sources. With this in mind, Spotify is now almost shoulder to shoulder with Pandora, which went public in 2011 and is currently valued at USD 5.7 billion.
Breaking News
Online music-streaming service Spotify has raised $250 million in a new funding round, making it one of the world's most richly capitalized start-ups.
Music streaming site Spotify could be the spark that would reignite music sales in Sweden.
Spotify's revenues in 2012 grew more than twice as much after expansion.
The London-based online music provider tries to break into several Asian counties in an effort to race with Pandora in global expansion efforts.
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