Spotify Closing In On $200 Million New Funding From Technology Crossover Ventures
Spotify is in advanced talks to secure a major new funding round. Technology Crossover Ventures (TCV), a California firm whose investments include Facebook and Groupon, would receive a major stake in Spotify in exchange for $200 million.
Prior to this newest round Spotify has raised $288 million including a $100 million Venture round in 2011 led by Kleiner Perkins Caufield & Byers, Accel Partners and Digital Sky Technologies; and a November 2012 $100 million round led by Goldman Sachs.
It's unclear exactly how much of Spotify will be acquired by TCV or at what price the transaction would value the popular streaming music service, according to Sky News, who first broke the story.