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. Continue reading [https://www.hypebot.com/hypebot/2016/03/spotify-nears-new-500m.html]

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.