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Monday, February 21, 2011

Spotify Secures Funding

MARK THIS SPOTIFY: Streaming subscription servce Spotify, which has already inked licensing deals with EMI and Sony in a prelude to its long-awaited introduction in the States, has now received a substantial round of financing from DST, a major backer behind Facebook, Groupon and Zynga, according to website TechCrunch. The funding reportedly could exceed $100 million, which is a big bet on the future of cloud-based streaming subscription services. With that kind of influx, could holdouts WMG and UMG be far behind in coming aboard? (2/21a)

 
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