Coca-Cola Is Now a Major Financial Investor In Spotify

From The New York Times:

Coca-Cola is becoming a minority investor in Spotify, as part of a new round of financing that will bring in $100 million and value the streaming music service at about $3 billion.

Spotify has completed the financing round, according to one person with direct knowledge of the deal. Of the $100 million, half is from Goldman Sachs, and Coke is contributing about 10 percent. Another new investor, Fidelity Investments, is also said to be chipping in 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. Both people spoke on condition of anonymity because the deal was private.

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