Feeds

Spotify reckons it's worth $4 BILLION - and Netflix investor agrees

Early backer shovels $250m into music streaming service

Secure remote control for conventional and virtual desktops

In the latest WTF valuation, music streaming site Spotify has raised around $250m in fresh funding, valuing the firm at a hefty $4bn.

Spotify scooped the new financing from investors led by Technology Crossover Ventures, an early backer of Netflix, sources familiar with the deal whispered to the Financial Times.

It's not completely out of the blue for investors to see Spotify as a multibillion dollar company, since a $100m investment led by Goldman Sachs a year ago already put its price tag as high as $3bn.

The company claimed in April that it has over 24m active users, with a quarter of them paying subscribers. Its latest financials, filed in Luxembourg, put its sales at €434.7m last year, although, like so many new web firms, it's only making losses, dropping €58.7m last year compared to €45.4m in 2011.

A number of tech firms are attracting hefty valuations this month in the afterglow from Twitter's relatively successful IPO. Dropbox was looking to raise $250m earlier this week, in a deal that would value it at $8bn, while Snapchat apparently spurned acquisition offers of $3bn from Facebook and $4bn from Chinese ecommerce giant Tencent Holdings recently. ®

Internet Security Threat Report 2014

More from The Register

next story
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
Want to STUFF Facebook with blatant ADVERTISING? Fine! But you must PAY
Pony up or push off, Zuck tells social marketeers
Oi, Europe! Tell US feds to GTFO of our servers, say Microsoft and pals
By writing a really angry letter about how it's harming our cloud business, ta
SAVE ME, NASA system builder, from my DEAD WORKSTATION
Anal-retentive hardware nerd in paws-on workstation crisis
Astro-boffins start opening universe simulation data
Got a supercomputer? Want to simulate a universe? Here you go
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Reducing the cost and complexity of web vulnerability management
How using vulnerability assessments to identify exploitable weaknesses and take corrective action can reduce the risk of hackers finding your site and attacking it.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.