Spotify reaches $4bn valuation

 
Oliver Smith
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SPOTIFY has raised $250m (£154m) in new venture financing, according to the Wall Street Journal, in a deal valuing the company at more than $4bn.

The service is reportedly looking to roll out in new markets including Japan.

Spotify’s revenue has increased in recent years, reaching $585m last year, but its losses have also widened under larger licensing agreements.

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