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  • Spotify Raises $100 Million In New Funding Round

    Spotify was valued at around $1 billion, despite concerns that its recently-launched premium paid subscription service is underperforming.

    Upstart: Tech/E-Commerce

    Spotify may still be signing one music label (that’d be Universal) away from its long-awaited US launch, but the streaming music company has just made another move suggesting that it’s getting ready to try and take America by storm. The company has sold a stake of just under 5% to investors Kleiner Perkins Caufield and Byers for $50 million.

    Kleiner Perkins is investing in the company at the same time as Russian firm Digital Sky Technologies Global, said to be buying an addition $50 million share. Both investments come after Spotify was valued at around $1 billion, despite concerns that its recently-launched premium paid subscription service is underperforming, and are rumored to be officially announced later this week.That said, All Things Digital isn’t convinced, adding this to their report of the investments:

    Read more:

    http://techland.time.com/2011/02/22/spotify-raises-100-million-in-new-funding-round/#ixzz1H04amFLl

    Upstart: Business and Management for 20-40 Year Old Professionals

    Filed Under: Tech/E-Commerce

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