European streaming music startup Spotify is in the process of closing a very large financing, say multiple sources. DST, the venture firm that has backed Facebook, Groupon and Zynga, is said to be leading the deal, which values Spotify at around $1 billion.
The size of the round will be $100 million or more, say our sources. The company has raised at least €82.3 million to date, including a relatively small round of financing a year ago from Founders Fund.
This new round, though, is at a much higher valuation. The Founders Fund round was rumored to be at a similar valuation as the previous round, a 2009 financing that valued the company at around €200 million.
DST About To Lead Huge Spotify Funding
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