Spotify Closes Funding Round – Now Valued at $8.53bn

Spotify, a music streaming service, closed a $526m round of funding yesterday.  The financing – which was first reported in April – valued the company at $8.53bn.  Investors in Spotify’s latest round include Discovery Capital Management, Senvest Capital, Baillie Gifford, Landsdowne Partners, and Rinkelberg Capital.  This raise comes on the heels of the launch of Apple Music this past Monday.

Spotify is a member of the Triton Research IPO Watchlist, a continuously updating database of companies we expect to either IPO or be acquired.  The current IPO Watchlist is comprised of 106 companies organized by investment theme.