The Coca-Cola and record company-backed streaming service is set to raise the money in the next few weeks at an $8.4bn valuation.
Spotify, the Sweden-based music streaming service backed by several corporates, is getting close to closing a $400m funding round at an $8.4bn valuation, the Wall Street Journal reported on Friday.
The company has already recruited Goldman Sachs and Abu Dhabi Investment Authority, the sovereign wealth fund of Abu Dhabi, for the series G round, according to people familiar with the matter. Reports in January suggested it was targeting a $500m round at a $6bn valuation.
Spotify has also been…
