Coca-Cola is becoming a minority investor in Spotify, as part of a new round of financing that will bring in USD 100 million and value the streaming music service at USD 3 billion, according to The New York Times. Spotify has completed the financing round, according to one person with direct knowledge of the deal, and of the USD 100 million, half is from Goldman Sachs, and Coke is contributing about 10 percent. Another new investor, Fidelity Investments, is also said to be contributing about 15 percent of the financing round, with the remaining quarter coming from Spotify's existing investors, according to another person briefed on the deal. Spotify, which was founded in Sweden in 2006, came to the US last year and is now in seventeen countries; this week it opened in Ireland and Luxembourg.
