Spotify Is About To Be Valued At 8.4 Billion Dollars

New investors include Goldman Sachs and Abu Dhabi.

According to The Wall Street Journal, streaming giant Spotify is close to finalizing a deal to secure $400 million in funding from investors such as Goldman Sachs and state-sponsored investors from Abu Dhabi, which would value the company at $8.4 billion dollars. This adds a premium of $2.66 billion to the $5.74 billion valuation that was reported in January, and would place Spotify among the world's highest valued tech companies. $8.4 billion is 6.4 times the amount of revenue that Spotify made in 2014, and approximately $1.5 billion more than the total revenue of the recorded music industry in the United States in 2014. That's a lot of money.

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Spotify Is About To Be Valued At 8.4 Billion Dollars