Spotify Raising $100m for Expansion; Opening in Latin America, Eastern Europe Next Year

From Billboard:

Spotify is close to wrapping up a $100 million round of funding at a valuation of $3 billion as it prepares for expansion into Latin America and expanding further across Europe in 2013.

The latest round of funding, confirmed by a source familiar with the company’s plans, is at a valuation level that falls significantly short of previous reports of $4 billion. The digital music streaming market leader is expected to close imminently within the next week or two with several investors including Goldman Sachs, according to the source. News of the funding and Goldman Sachs’ involvement was first reported by the Wall Street Journal.

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