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Broadband

Google lost Spotify bid, now loses music director at YouTube

Wednesday 23 July 2014 | 09:55 CET | News
Google tried to acquire music streaming service Spotify late last year, the Wall Street Journal reported, citing a source familiar with the matter. In a letter to the US Securities and Exchange Commission, Google said it pursued but discontinued a potential buyout of a foreign company, with a valuation estimated at USD 4-5 billion. Spotify last raised equity financing at a valuation of USD 4 billion but was looking to be sold at a price well above USD 10 billion, the source said. Talks broke down for a number of reasons, including the high price Spotify was asking, as well as Google chief

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Categories: Internet / Mobile & Wireless
Companies: Google / Spotify / YouTube
Countries: World
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