There had been reports that huge late-stage internet investment firm DST was going to make an investment in popular music-streaming app Spotify, but they hadn’t been confirmed.This week Forbes has a profile of DST founder Yuri Milner, which casually mentions that DST has “tentatively” agreed to take a 5% stake in Spotify for $100 million, which would value the company at $2 billion. As far as we know that’s the first (somewhat) official confirmation of the deal we’ve seen. It’s certainly the first time we’ve seen the valuation.
Apparently the deal hasn’t closed yet so this is all in flux, but it seems on the cusp of happening. Here’s why the deal would be smart →
Don’t Miss: Spotify Is Actually Crushing It →
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.