Spotify is moving up in the world. Just a couple months ago, reports emerged that the music streaming company was trying to raise money from investors at a $3.5 billion valuation— but some doubted that it was actually worth that much. Today, though, DealBook reports that Spotify is successfully raising hundreds of millions at a valuation of not $3.5 billion, but a full $4 billion. [See & Read More]
Goldman Sachs is leading the investing round, and is expected to purchase a $100 million stake in the company. Several other firms are said to be in talks for a piece of the pie, and Spotify may bring home up to $220 million from the round. Founded in 2006 in Sweden and arriving on U.S. shores last summer, Spotify has approximately 20 million users and has grown steadily since integrating with Facebook earlier this year.
[DealBook via The Verge]