Spotify has raised $526 million in its latest round of funding, according to reports that surfaced Wednesday. That’s more than half the $1 billion Spotify raised in funding over the past nine years, said Susan Schreiner, analyst at C4 trends. The news came on the heels of Apple’s Monday announcement of its new music-streaming service. Given that Apple may do to the streaming music business what it has done to every field it has entered — ravaged competitors and dominated the market — why would companies pump all this money into Spotify?
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Spotify Ain't Afraid of No Apple
Posted by: Richard Adhikari June 11, 2015 11:00 AMSpotify has raised $526 million in its latest round of funding, according to reports that surfaced Wednesday. That’s more than half the $1 billion Spotify raised in funding over the past nine years, said Susan Schreiner, analyst at C4 trends. The news came on the heels of Apple’s Monday announcement of its new music-streaming service. Given that Apple may do to the streaming music business what it has done to every field it has entered — ravaged competitors and dominated the market — why would companies pump all this money into Spotify?