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Spotify To Be Valued At $8.4 Billion

Yes, you read that number correctly. According to The Wall Street Journal, popular streaming

Yes, you read that number correctly. According to The Wall Street Journal, popular streaming platform Spotify is about to finalize a $400 million deal in funding with powerful investors like Goldman Sachs amongst others. As a result, after closing its deal the company would be valued at $8.4 billion, which is $2.66 billion higher than its $5.74 billion valuation reported earlier this year. The number is 6.4 times the revenue amount that Spotify made last year, and $1.5 billion more than the revenue of the entire recording industry in the US in 2014. With a valuation amount like that, this makes Spotify one of the richest tech startups in the recent years. We’re also curious to know whether JAY Z’s new artist-run, streaming service TIDAL will be able to make these numbers in the coming years.

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