Spotify's Cash Infusion

A SPOT OF CASH: Spotify has completed a new round of capitalization to the tune of $100 million, according to multiple reports, with half the cabbage coming from Goldman Sachs, 15% from Fidelity, 10% from Coca-Cola and the rest from prior supporters. The company, now valued at around $3 billion, today shared with select users the beta version of its Web-based browser, which will enable users to stream tunes from any connected device. Much speculation has already surrounded Coke's participation in the financing, given that the sugar-water giant and Spotify had trumpeted a marketing pact last spring. Will sugary beverages be the baptismal font to renew the music biz? Will free samples of Coke Zero be enough to entice some artists to give up the rights they've withheld because of Spotify's impact on first-week sales? In a related story, RC Cola just gave a kid with a banjo fifty cents to play "My Old Kentucky Home." (11/15a)