Funding

Spotify raises $526M in Series G Funding

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What does Spotify do?

 Spotify, is a commercial music streaming service which provides restricted digital content from a range of record labels and artists.  With this service you can find the right music for every moment; on your phone, tablet and computer searches. You can browse through the interface by album, artists, genre, record label, playlist, direct searches and record label. It helps individuals in creating, sharing and editing playlists with other users. If you want recommendations, you can integrate your system with Last.fm, an app which provides music recommendations based on the play history. It also has a radio feature which creates random playlists for users that are related to preferred artists.

Social media integration is a popular feature which enables users to connect their Spotify accounts to their Twitter and Facebook profiles. This will help the user access their friend’s favorite music and playlist and share their music with others too.

Users can buy their preferred content through partner retailers.

How much Spotify was funded?

Spotify has raised $526M in Series G funding on June 10th, 2015 from Senvest Capital, Asset Management Partners, Goldman Sachs, Northzone, D.E. Shaw & Co., Technology Crossover Ventures and other angel investors

Previous funding

  • $21.6Min Series A funding on October 1, 2008 from Li Ka-shing, Northzone, Creandum and Horizons Ventures
  • $50Min Series B funding on August 4, 2009 from Li Ka-shing, Wellington Partners and Horizons Ventures
  •  €11.6M in Series C funding on February 1, 2010 from Founders Fund and Sean Parker
  • $100Min Series D funding on June 17, 2011 from DST Global, Accel Partners and Kleiner Perkins Caufield & Byers
  •  Undisclosed amount in Secondary Market on January 1, 2012 from 137 Ventures
  • $100Min Series E onNovember 15, 2012 from AFSquare, Fidelity Ventures, The Coca-Cola Company, Goldman Sachs and Lakestar
  •  $250M in Series F on November 21, 2013 from Technology Crossover Ventures

What is next for spotify?

Spotify plans to invest the funding raised in expansion and new forms of content to further differentiate itself from other online music streaming services

More about Spotify

Spotify was founded onJuly 14, 2006 by Martin Lorentzon, Daniel Ek. It has its headquarters in Stockholm. It is available for mobile platforms such as Android, iOS, Blackberry, Linux, Boxee, Squeezebox, Windows, MeeGo etc.

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