Andre Yoskowitz
3 May 2015 10:09
Music streaming giant Spotify has raised another $350 million at a valuation of about $8 billion.
Reportedly, one of the largest investments came from Goldman Sachs, who was investing for its institutional clients.
Spotify has over 60 million monthly active users, 15 million of which pay for unlimited or premium subscriptions that cost $4.99 or $9.99 per month.
Free users can listen to music using the desktop app or their browser, or on mobiles but only in "radio" format similar to Pandora. All free accounts have to listen to ads every few tracks. Unlimited users get unlimited streaming with no ads, and premium subscribers get unlimited streaming, no ads, and full mobile access.
Source:
CNBC