Report: Spotify Valued at $3 Billion, Airbnb Just Behind

SpotifyThe digital music-listening service Spotify is finalizing a round of funding that values the U.K. company at more than $3 billion, the Wall Street Journal reports.

Spotify lost $56.6 million last year, more than it did in 2010, the Journal reports based on the accounts of Spotify’s Luxembourg-based holding company. And with Apple poised to launch its own personalized radio service, Spotify faces tough competition in the months ahead.

AirBnB, the digital home-space rental agent, is also finalizing a funding round that puts its value at $2.5 billion, the same article reports.

Square, meanwhile is valued at $3.5 billion.

Companies and investors are assessing value more conservatively in the wake of lousy performances by Facebook and Groupon, according to the report.

Related Stories
Mediabistro Course

Online Marketing

Online MarketingStarting November 4, learn how to launch a successful digital marketing campaign for your brand! In this course, you'll learn how to create an online marketing strategy, identify the appropriate distribution platforms, and use the web to successfully deliver your brand's message. Register now!