REUTERS - Spotify is in the middle of a $100 million financing round that could value the music streaming company at just over $3 billion, the Wall Street Journal reported citing sources.
The Journal said Spotify would raise the fresh capital from multiple investors including Goldman Sachs . The WSJ report did not name any other investors. (http://r.reuters.com/mev83t)
Spotify has raised capital from outside investors several times since it set up shop in 2006, and was earlier reported to have been looking to secure a capital boost of about $200 million, at a valuation of about $4 billion.
Kleiner Perkins Caufield & Byers, Accel Partners and others have invested about $189 million in the company in its prior financing rounds.
The company has over 15 million active users and 4 million paying subscribers, for its on-demand service, which offers unlimited music streaming of some 18 million tracks. (Reporting by Himank Sharma in Bangalore)
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