Spotify Gets New Funding From Goldman Sachs, Coke [Report]By: Chris Crum - November 14, 2012
Spotify has attracted a new $100 million round of funding, valuing the company at nearly $3 billion, according to various reports.
According to the New York Times’ Media Decoder, Coca-Cola is becoming a minority investor in the company as part of the round, and that Goldman Sachs is contributing about half of the investment, with Coca-Cola contributing 10% and Fidelity Investments also contributing 15%.
News came out in April that Spotify had partnered with Coca-Cola. The announcement was that Spotify would provide technology for Coca-Cola Music globally. Coke would integrate Spotify into its Facebook Timeline media.
“Coca-Cola is the most recognized and respected brand in the world and we are proud to be their music partner,” Spotify CEO Daniel Ek said at the time. Spotify and Coca-Cola both believe that music, technology and creativity can connect people around the globe.”
There has been no official announcement or statement from Spotify at this point.