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# Spotify Closes $526 Million Funding Round To Fight Apple
- URL: https://www.hypebot.com/spotify-closes-526-million-funding-round-to-fight-apple/
- Published: 2015-06-10T07:33:17.000Z
- Updated: 2015-06-10T07:33:17.000Z
- Description: Timing, particularly in the entertainment industry, is everything. So, it is no coincidence that right after Apple Music launches, Spotify just happens to close a $526 million round that has. Continue reading [https://www.hypebot.com/hypebot/2015/06/spotify-closes-526-million-funding-round-to-fight-
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Startups & Funding, Streaming, Activism, Apple Inc., Credit Suisse, Federal Reserve System, General Electric, Goldman Sachs, JPMorgan Chase, Loan, Spotify, The Wall Street Journal, #wp, #wp-post, #Import 2026-01-21 10:28

[![image from www.hypebot.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b8d1256d13970c-115wi "image from www.hypebot.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b8d1256d13970c-popup?ref=hypebot.com)Timing, particularly in the entertainment industry, is everything. So, it is no coincidence that right after Apple Music launches, Spotify just happens to close a $526 million round that has been an open secret since April.

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[![Spotify logo](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c79c07cf970b-115wi "Spotify logo")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c79c07cf970b-popup?ref=hypebot.com)

Just 2 days after Apple launched its own music streaming service, Spotify has closed a $526 million funding round at a whopping $8.2 – $8.53 billion valuation.

Among the lead investors is TeliaSonera, the top mobile carrier in Sweden, who announced it has invested $115 million for a 1.4% stake in the company. A joint TeliaSonera-Spotify team is being created to launch special projects together.

Other investors in the new round include Baillie Gifford, Landsdowne Partners and Rinkelberg Capital; Senvest Capital and Discovery Capital Management, Halcyon Asset Management, GSV Capital, D.E. Shaw & Co., Technology Crossover Ventures, Northzone and P. Schoenfeld Asset Management.

Goldman Sachs, who raised this round for Spotify, also invested through its Global Private Opportunity Partners fund, according to the [Wall Street Journal.](http://blogs.wsj.com/digits/2015/06/10/spotify-raises-526-million-amid-battle-with-apple/?mod=wsj%5Fnview%5Flatest&ref=hypebot.com) The WSJ and [TechCrunch ](http://techcrunch.com/2015/06/10/swedens-telia-sonera-confirms-its-investing-115m-in-spotify/?ncid=rss&ref=hypebot.com)disagree as the whether or not Abu Dhabi’s sovereign-wealth fund also paritcipated.

> **Spotify has now raised a total of $1.1 billion in 8 rounds from 27 investors, accoriding to [Crunchbase](https://www.crunchbase.com/organization/spotify?ref=hypebot.com).**

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