The Stars Align For Spotify (Really This Time, Maybe) Music streaming service Spotify (more convenient than piracy!)
, long enjoyed in Europe and long longed for in the U.S., may finally finally have its ducks in a row. If a number of interdependent deals come together, the service may soon be available to U.S. users, Facebook Music might finally become a reality, and a new round of venture capital may be injected into the company. As usual, it all hinges on the music labels. For years Spotify has promised a U.S. launch that would include a free version of the product like they have in Europe. Promises for a U.S. launch were made almost since Spotify first appeared in 2008. DST About To Lead Huge Spotify Funding. 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. 10 Million Users Have Tuned In To Spotify So Far, But Only 1 Out Of 20 Pays For It.