Spotify AB has headed back to the funding well for a seventh time, nearing a deal to raise $400 million in a round valuing the music-streaming service at $8.4 billion, according to people familiar with the matter.
The deal would place Spotify in the upper ranks of the world’s most highly valued private tech companies. Goldman Sachs Group Inc. and an Abu Dhabi sovereign-wealth fund have agreed to invest in the round, and Spotify has held talks with a range of asset managers and venture-capital firms around the globe, the people said.
via Spotify Nears Deal to Raise $400 Million at $8.4 Billion Valuation – WSJ.