Raising $100 million from DST, Accel and Kleiner Perkins, the company is now valued at around $1 billion.
After 15 months of delays, it also appears that the service is ready to launch in the U.S. in July, with an exec alluding to the date but not giving an official confirmation.
Spotify has been negotiating with the Big 4 labels for over a year now and has finally stuck deals with Universal Music Group, months after striking deals with smaller labels EMI and Sony.
Warner Music Group remains the last holdout, but sources claim that a deal is imminent within a week.
Written by: Andre Yoskowitz @ 17 Jun 2011 11:50