Spotify Is Now Worth $8.4 Billion


rAU1DgZyG7i73ddPA4EoAvxza7XzLm0quxygOJLhf1As the streaming war between TIDAL and Spotify is in its genesis, the latter proves it didn’t lose its positions. The Wall Street Journal reports that the platform is to close a $400 million deal in funding. Investors include powerful companies such as Goldman Sachs – one of the oldest investment banks in the world. Once the papers get signed, Spotify would be estimated at $8.4 billion.

This number is $2.66 billion higher than the streaming giant’s previous $5.74 billion valuation reported in January this year. It is also $1.5 billion more than the revenue of the entire recording industry in the US in 2014. These statistics make Spotify one of the richest tech startups in the recent years.

Bottomline: if Jay Z and his new artist-powered platform TIDAL want to compete with Spotify, it will take more than taking off a few albums and random songs, a couple of exclusive…

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