Spotify Is Worth $8.2 Billion; Who's Invested?

Online music provider Spotify recently hired Goldman Sachs to help it raise new funding -- $526 million, according to Rhe Wall Street Journal.

The move could be aimed at fending off competing service Pandora Media Inc (NYSE: P) and Apple Inc. (NASDAQ: AAPL), which launched its own music streaming service this week.

As Spotify continues to try to differentiate itself, funding is crucial.

According to an article published on CNBC, the company has recently managed to seize a $115 million investment (a 1.4 percent stake) from Swedish telecom operator TeliaSonera. The latter said it will both be "committing resources, staff and other assets" to areas like data analytics and advertising.

Related Link: Why Apple's 'Me-Too' Music Service Was The Worst Part Of WWDC

WSJ mentions other firms that have placed a bet in the Swedish streaming service: Halcyon Asset Management (John Bader), GSV Capital, D.E. Shaw & Co., Technology Crossover Ventures, Northzone and P. Schoenfeld Asset Management are some of the U.S. investors. The company also has the support of other firms like Discovery Capital Management (Rob Citrone), Senvest Capital, Rinkelberg Capital, Baillie Gifford and Landsdowne Partners.

In addition, it seems Goldman Sachs did not only help it secure the funding, but also invested some money of its own.

This last round of funding has valued Spotify at roughly $8.2 billion, more than doubling Pandora’s market capitalization.

Spotify In Numbers

As noted by CNBC, Spotify counts with 60 million active users, of which 15 million pay a subscription. Still, “the company has struggled to turn a profit. While revenues jumped 45 percent in 2014 to top 1 billion euros ($1.13 billion), Spotify actually posted an operating loss of 165.1 million euros, compared to 91.2 million in 2013."