Spotify has closed a whopping $3-billion funding round, according to an AllThingsD report that SocialTimes is attempting to verify.
Last week, the Wall Street Journal, which like AllThingsD is owned by Dow Jones, reported that Spotify was closing a $100-million funding round that placed the company’s value at $3 billion.
(Even the Wall Street Journal gets it wrong sometimes.)
The funding round is massive for a company that still registers its financials in red ink. But at least according to one anonymously sourced account, financial analysts believe Spotify’s business model is strong and will eventually lead to profits.
Spotify continues to expand its user base.