Spotify has reached approximately 100 million active monthly users, the company reported to The Telegraph earlier today. The news comes after a March report from the Swedish company that they had reached 30 million paying subscribers.
Spotify has also reportedly become the biggest European startup and is currently valued at $8.5 billion by investment bank GP Bullhound. Spotify, which launched in 2008, recently raised a billion dollar debt round and its revenues grew faster than its losses in the past year. The company named Paul Vogel its first Head of Investor Relations last week, indicating that plans for an IPO are accelerating.
A representative for Spotify was not immediately available for comment.