With this new round, Spotify has raised more than half a billion dollars since 2008. According to the Wall Street Journal , the Swedish music streaming service would have raised $ 250 million from the investment fund Technology Crossover Ventures. Last year, the site already received $ 100 million in its capital, as in the previous year also.
With a total of $ 538 million raised, the world’s leading music streaming would reach its capitalization 4 billion. Spotify is one of only technology companies to overcome the multi-billion dollar valuation circle alongside the photo sharing service Snapchat and two storage platforms online DropBox and Box – it wants to go public
So far, Spotify has taken advantage of its capital increases was increasing the number of active users. 15 million last year, the Swedish now saves 24 million. This growth was accompanied by a significant evolution of turnover, according to the U.S. daily, took off 128% between 2011 and 2012, to reach almost € 435 million last year. Spotify derives its income from its sixes millions of paying subscribers, but also advertising.
Deezer Spotify soon face the United StatesBut Spotify does not mean profitable. Like many growing companies, the company first finance its growth and aims to penetrate the maximum market to reach a critical size, then monetizes it. The net loss of the platform has increased by almost a third in one year to be around 60 million euros at the end of fiscal 2012. Its French competitor Deezer liberates profits since 2010, but evolves on a scale below, with 70 million sales in 2012.
With this investment, Spotify would wish to extend its reach geographically offering its service in new countries, like Japan. Last year, the service was available in 17 countries against 32 at present. In 2014, the music streaming service will count with the arrival of a new competitor on the main playground, the United States. This is Deezer Read also:.
- Deezer vs Spotify: offering the best quality
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