Spotify Valued At $300 Million
Former Napster, Facebook Exec Sean Parker Invests $15 Million
Spotify has received a €11.6 million ($14.86 million USD) investment from Sean Parker who was the co-founder of Napster and former CEO of Facebook. The cash infusion was made in back February according to documents gathered by Computer Sweden from the Trade Register of Luxembourg, where Spotify's parent company is registered.
Thge documents give Parker a 5% share for his investment and a seat on its board of directors. That would put the total valuation of Spotify at €230 million ($300 million USD), up from €190 million ($243 USD) just one year ago.