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# Spotify Closes New $100 Million Funding Round, U.S. Launch Nears
- URL: https://www.hypebot.com/spotify-closes-new-100-million-funding-round-us-launch-nears/
- Published: 2011-06-17T10:14:53.000Z
- Updated: 2011-06-17T10:14:53.000Z
- Description: Spotify has closed another round of funding totalling $100 million based on a $1 billion valuation. (By comparison, Pandora's IPO this week valued the streaming music service at over $2. Continue reading [https://www.hypebot.com/hypebot/2011/06/spotify-closes-new-100-million-funding-round-us-launch-
- Author: Bruce Houghton
- Tags: Uncategorized, #wp, #wp-post, #Import 2026-01-21 10:55

[![image from www.google.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e2014e893373c3970d-200wi "image from www.google.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e2014e893373c3970d-popup?ref=hypebot.com)

**Spotify** has closed another round of funding totalling **$100 million** based on a **$1 billion** valuation. (By comparison, **Pandora**'s IPO this week valued the streaming music service at over $2 billion.) Spotify has been working on this deal for more than 6 months and in the end investors **DST, Kleiner Perkins** and **Accel** stepped up, according to Peter Kafka of [AllThingsD](http://allthingsd.com/20110617/spotify-gearing-up-for-u-s-launch-closes-its-1-billion-round/?ref=hypebot.com). The timing could be further proof that insiders know that rising rumors of a July launch are true.

"We're **signing the remaining deals** as I speak," said Jonathan Forster, General Manager of Europe & Global Vice President of Ad Sales at Spotify, [speaking](http://www.siliconvalleywatcher.com/mt/archives/2011/06/the%5F800lb%5Fgoril%5F1.php?utm%5Fsource=feedburner&utm%5Fmedium=feed&utm%5Fcampaign=Feed%3A+SVWatcher+%28Silicon+Valley+Watcher%29) at the Omnicom conference in London. "We won't launch before **July 5th**."

To make the labels happy. Spotify has reportedly agreed to a **faster monetization strategy** than they currently have. That could mean more restricted trials than its current ad-supported freemium model. Spotify has **10 million EU users** with one **1 million subscribers** paying 10 Euros a month for an ad free version with mobile options.