Spotify has reportedly raised around $100m from a round of investment led by Goldman Sachs which puts a $3bn valuation on the company.
The investment completes its eight-month search for new funding, and the valuation is three times higher than its last funding venture, which took place just over a year ago.
Fidelity Investments and Coca-Cola, which announced a marketing partnership with Spotify this year, have also participated in its latest round, according to sources.
Existing Spotify investors include Kleiner Perkins Caufield & Byers, DST Global and Li Ka-shing’s Horizons Ventures.
Source: Financial Times