- Share this article on Facebook
- Share this article on Twitter
- Share this article on Flipboard
- Share this article on Email
- Show additional share options
- Share this article on Linkedin
- Share this article on Pinit
- Share this article on Reddit
- Share this article on Tumblr
- Share this article on Whatsapp
- Share this article on Print
- Share this article on Comment
Spotify and Technology Crossover Ventures are close to announcing a $200 million round of funding, according to a report on Sky News.
As of last March, Spotify had some six million paying customers and 24 million active users. The streaming service’s most recent initiative is an artist marketing program called Spotlight, which launched last month with artists Haim and Lorde, and is both a discovery and promotion tool.
STORY: Who Gets Rich in Twitter’s IPO
In September, Spotify expanded to four new countries — Taiwan, Argentina, Greece and Turkey — bringing the total territories where the music streaming service is available to 32 countries.
TVC, which is based in Silicon Valley, has a $7.7 billion technology fund and counts Facebook, RealNetworks, Netflix and Groupon among its many investments.
A Spotify representative declined to comment for this report.
This story first appeared on Billboard.com.
THR Newsletters
Sign up for THR news straight to your inbox every day