Spotify may still be signing one music label (That’d be Universal) away from its long-awaited US launch, but the streaming music company has just made another move suggesting that it’s getting ready to try and take America by storm. The company has sold a stake of just under 5% to investors Kleiner Perkins Caufield and Byers for $50 million.
Kleiner Perkins is investing in the company at the same time as Russian firm Digital Sky Technologies Global, said to be buying an addition $50 million share. Both investments come after Spotify was valued at around $1 billion, despite concerns that its recently-launched premium paid subscription service is underperforming, and are rumored to be officially announced later this week. That said, All Things Digital isn’t convinced, adding this to their report of the investments:
People who tell me they’re familiar with Spotify’s plans also tell me [this news is] wrong. But they won’t be specific about why they’re wrong. So my hunch is that some comination of the total amount raised, the valuation and the investors may still be in flux.
As The Guardian points out, Spotify’s most recent audited annual accounts – for 2009 – show that it lost £16.6m in the UK based on revenues of £11.3m.
More on Techland:
Spotify Signs With EMI. Is It Closer to a U.S. Launch?
Competition for iTunes? Google Music, Spotify Making Launch Strides