SPOTIFY: Now It's A $1 Billion Company

Dr. Evil

After six months, Spotify has closed its latest funding round, which values the company at about $1 billion, All Things D’s Peter Kafka reports.

Spotify raised about $100 million from Kleiner Perkins, DST, and Accel, according to the report.

Add that to the mounting evidence of Spotify’s impending U.S. launch this summer. Yesterday, a Spotify exec alluded to a July launch in the States.

The company has also reportedly secured deals with three of the four major music labels, after the Universal Music Group agreement went through a week ago.

Now, Spotify only has to lock down Warner Music Group and it should be good to go.

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