Spotify now worth 200 million euros
Latest funding round nearly complete
5 August 2009 9:38 GMT / By Duncan Geere
Investors in a new round of financing have pegged Spotify as having a value of 200 million euros - equivalent to about £170 million. The company has raised £30 million at that valuation.
Two parties have stumped up the cash - a unnamed venture firm and an Asian investor called Li Ka-Shing who has previously invested in Facebook and Joost. The funding will be used by the company to pay for expansion into the US.
There are concerns among some that Spotify's losses currently far outstrip its revenues, with slow uptake of its £10-a-month premium service, but an imminent iPhone application may change that. Most users plump for the free, ad-funded, option.
PHONES
Nokia N900 mobile phone Will this revive Nokia's fortunes?
PHONES
PHOTOS: First ELSE hands-on Up close and personal
AUDIO
Vodafone Pocket-lint Gadget Awards date confirmed and tickets on sale Get your tickets today
Comments