Home Spotify raises USD 526 mln, sells stake to TeliaSonera
 

Keywords :   


Spotify raises USD 526 mln, sells stake to TeliaSonera

2015-06-10 10:03:00| Telecompaper Headlines

(Telecompaper) TeliaSonera said it has made an equity investment into Spotify of USD 115 million and that it has extended its cooperation with the music streaming company after working together five years. Under the new strategic partnership, TeliaSonera paid USD 115 million for a 1.4 percent stake. Both companies are also committing resources, staff and other assets to ignite their joint innovation agenda within areas such as media distribution, customer insights, data analytics and advertising. A joint TeliaSonera-Spotify team will be set up to run the projects. Spotify recently raised USD 526 million during its latest funding round, the Wall Street Journal reported. The round values the company at USD 8.53 billion, sources said. Spotify wants to invest in expansion and new forms of content as it faces a growing set of challengers.

Tags: usd sells raises stake

Category:Telecommunications

Latest from this category

All news

»
01.11Atlantic Tropical Weather Outlook
01.11Eastern North Pacific Tropical Weather Outlook
01.11Boeing makes 38% pay rise offer in bid to end strike
01.11The house paints that promise much more than colour
01.11Eastern North Pacific Tropical Weather Outlook
01.11Atlantic Tropical Weather Outlook
01.11Technology adoption: What's on the ag tech horizon for 2025
01.11Technology adoption: What's on the ag tech horizon for 2025
More »