Friday, May 1, 2015
by Paul Resnikoff
It wasn’t a rumor: according to details confirmed this morning by CNBC, Spotify has now successfully raised a Series F (yes, F) of approximately $350 million. The round, led by Goldman Sachs, pushes Spotify’s total funding to roughly $900 million, and values the company north of $8 billion (yes, with a b).
Spotify has burned through hundreds of millions of dollars (see graph below). More critically, Spotify does not have a concrete path towards profitability, has no known or interested buyers capable of paying $8 billion-plus, nor any published plan for a Wall Street IPO. Spotify does, however, have 15 million paying subscribers, though that number is far too low to sustain the business on its own.
Read the rest of this story here:
Spotify Just Raised Another $350 Million… – Digital Music News.
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