As its long-awaited U.S. debut nears, Spotify has raised around $100 million of funding from DST, Kleiner Perkins and Accel, according to MediaMemo. This new funding reportedly values Spotify at $1 billion.
Although its continues to grow in Europe and has a U.S. launch coming soon, Spotify has been stuck at the $1 billion valuation this year. The $100 million round led by Digital Sky Technologies Global, which was near completion in late February, was said to have a $1 billion valuation. That deal might not have gone through, however. Just days later, reports said the company had raised $100 million at an unspecified valuation from Founders Fund.
But the company's valuation has definitely grown over the years. Back in 2009 the company reportedly raised $50 million at a $250 million valuation.
As a point of comparison, Pandora was briefly worth $4.2 billion on its first day of trading Wednesday. As of Friday morning, its market value had dropped to $2.12 billion.
Signs point to an impending Spotify launch in the U.S. This latest funding arrives a week after Spotify signed up Universal Music Group for the U.S. - its third major label here - and days after European G.M. Jonathan Forster said the remaining U.S. deals were being signed as he spoke. Even though a launch will not happen before July 5, according to Forster, a U.S staff has been in place for months.