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Latest funding round values Spotify at over $4bn

22 Nov 2013

dollars10_sqSwedish streaming music provider Spotify has reportedly secured $250m in a round led by Technology Crossover Ventures.

The round valued the company at “north of $4bn,” said Dow Jones, citing multiple people familiar with the deal.

Spotify is expected to use the funding to finance expansion into new markets including Japan.

The round came a year after Goldman Sachs invested $100m in Spotify in a deal that valued the company at around $3bn.

Technology Crossover, whose investees include Netflix, led a $75m Series D for advertising technology platform AppNexus earlier this year.

The firm has raised more than $7.7bn since its launch in 1995.

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