Spotify is close to ending a $100 million round of funding at a valuation of $3 billion as it prepares for expansion into Latin America and Europe in 2013, according to reports.
The latest round of funding is expected to close within the next week or two with several investors including Goldman Sachs, according to Billboard.
Founder Daniel Ek has recently said that he is focused on growing Spotify around the world. The company is currently advertising for key staff in new markets like Mexico City and Poland and is said to be in talks with record labels about opening up shop in Japan.
The streaming service has made $200 million in total revenue over the first six months of 2012, and is on an annual run-rate that could put it around $500 million by January, according to a leaked report from TechCrunch.