Spotify Nears New $500 Million – $1 Billion Funding Round
To date, Spotify has raised $1.56 billion including a $500 million convertible note in January of this year. Now comes word that the music streamer is closing in on another major funding round.
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Spotify is close to closing a new $500 million funding round with investment giant TPG Capital. But according to sources close to the deal, that stake could increase to as much as $1 billion in loan notes, according to Sky News.
The funds could be used to purchase competitors in the likely consolidation ahead.
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