Spotify secures $526m in new funding round

Coral Williamson

Spotify has closed a new round of funding, just one day after Apple launched rival Apple Music.

The $526 million round, which closed on Tuesday (June 9), means that the nine-year-old company has now raised more than $1 billion.

The Wall Street Journal reports that investors this round include British asset managers Baillie Gifford, Landsdowne Partners and Rinkelberg Capital; Canadian hedge funds Senvest Capital and Discovery Capital Management.

Nordic Telecom operator TeliaSonera also invested $115m, for a 1.4% stake in Spotify. The two companies ...

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