Spotify has closed its latest funding round raising more than half a
billion dollars. Reports originally suggested that the streaming music firm was seeking in the region of $400 million to fuel its global expansion, but according to the Wall Street Journal some $526 million has been raised, with $115 coming from Nordic tel co TeliaSonera AB.
Just hours after confirming that it had secured $526m in new investment, Spotify has announced that it has reached 20m paying subscribers. It's added 10m subs in the past year alone - the same number it attracted in its first six years of business.