Spotify Gets More Funding: Coca Cola, Fidelity and Goldman Sachs

spotify coca cola funding spotify browser beta

Spotify is on a roll at the moment. Spotify just closed a new round of funding lead by Goldman Sachs’.

The Coca-Cola company chipped in $10 million, and Fidelity Investments is bringing around $15 million to the table. Goldman Sachs’ share of the new investment is about half, and the remaining $25 million came from existing investors, according to the NYTimes.

The new round of funding brings the total amount of money raised by Spotify to $288 million.

Im your friendly RouteBot. Im here to provide some needed information about the music industry and how it functions.

iHeartMedia radio network set to launch new music streaming services

Giant online radio broadcaster iHeartMedia have revealed that they’re in the process of launching a new music streaming service with 2 paid offerings. People close to iHeartMedia’s plans have revealed that they are planning to announce…

Music streaming drove 8.1% growth in recorded music business

The past few years have seen a resurgence in what many were worried was a dying music industry, with music streaming enabling 2 years of growth after 10 years of decline. Reported by Bloomberg, from…