Mar
29
Spotify Expected to Sign $1 Billion Financing Deal
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Spotify has developed a powerful position in the music industry, helping albums by young stars, among them Ed Sheeran, reach high levels on the charts. CreditToby Melville/Reuters
Spotify is about to close on a $1 billion deal that would double the amount of financing the music-streaming company has raised since its founding a decade ago, people briefed on the matter said Tuesday.
The money comes in the form of convertible debt, which allows Spotify’s investors to change their securities into equity at a future date, said the people, who spoke on the condition of anonymity because the deal was not yet public…
Spotify Expected to Sign $1 Billion Financing Deal
