Spotify's streaming music service valued at $ 8.4 billion

Spotify's music service is preparing to receive $ 400 million from Goldman Sachs, Abu Dhabi’s National Welfare Fund and several other sources. After the next stage of financing, the service will be valued at $ 8.4 billion, according to the Wall Street Journal .

Since 2008, the Swedish service Spotify has been offering legal streaming music. The service earns on paid subscriptions of users: a paid account allows you to listen to music in high quality without ads and restrictions.

Attracting financing in the amount of $ 400 million will raise the value of the company to $ 8.4 billion, while the Pandora streaming service is estimated at $ 3.5 billion.

Spotify needs development to fight new competitors. According to rumors, Apple will launch the Beats music service , and rapper Jay Z will resume Tidal .
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The Wall Street Journal and the Dow Jones VentureSource have already updated the ranking of the largest high-tech startups. The total amount of investments attracted as a result of seven stages was $ 921 million, the value of the company was estimated at $ 8.4 billion.

Investments in the company: Abu Dhabi Investment Council, Accel Partners, Coca-Cola, Digital Sky Technologies, Fidelity Investments, Founders Fund, Goldman Sachs Group, Kleiner Perkins Caufield & Byers, Li Ka Shing Foundation, Northzone Ventures, TCMI, Wellington Partners .