On Air Now

Listen

Listen Live Now » 95.5 FM Wausau, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
66° Feels Like: 66°
Wind: ENE 5 mph Past 24 hrs - Precip: 0.02”
Current Radar for Zip

Today

Partly Cloudy 72°

Tonight

Partly Cloudy 54°

Tomorrow

Mostly Cloudy 71°

Alerts

Music streamer Spotify seeks new financing: report

STOCKHOLM (Reuters) - Music streaming web service Spotify is looking at different ways to raise capital for further growth, Swedish daily Dagens Industri reported in its Friday edition, citing sources.

Spotify would not necessarily issue new shares and is considering issuing debt, the report said. It did not say how much money Spotify was seeking to raise.

One of the paper's sources put Spotify's valuation at around 35 billion Swedish crowns ($5.2 billion), compared with around 20 billion in November last year.

In July, documents showed the Stockholm-based unlisted company more than doubled revenues in 2012 to 435 million euros($571 million), while its net loss increased to 58.7 million euros.

(Reporting by Sven Nordenstam; Editing by Cynthia Osterman)

Comments