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Spotify Now Has a Line of Credit Worth $200 Million…

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Speculation around a Spotify IPO continues to rise, largely due to a slew of recent actions taken by the company.   On February 14th Spotify put up a job posting for an “External Reporting Specialist” to “prepare the company for international financial standards“.

Spotify also acquired The Echo Nest, the data / tech company that powers many of their competitors.

The latest development adds more fuel to the speculative fire, even though Spotify will not provide an official comment on the matter.  According to Financial Times Spotify has secured a line of credit of up to $200 million.  The credit was financed at the end of 2013 by Morgan Stanley, Credit Suisse, Deutsche Bank and Goldman Sachs.

According to reports, Spotify has not yet tapped into this money.

It’s worth noting that Twitter and Facebook took similar steps right before launching their IPOs.

 

Photo from Flickr by FamZoo, licensed under Creative Commons.

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Comments (3)
  1. Willis

    I have an idea where they should spend that money – there’s a sale at Bloomingdale’s this weekend.


    Reply
  2. Spoken X Digital Media Group

    I need a credit line also. I believe they treat black copyright owners different than other folks; nevertheless I’m launching a new wave of lawsuits. I’m going to continue eating my pork-n-beans and doing without my generic medicine for the next fifty years while I deliver that punitive shit !


    Reply
    1. TuneHunter

      They must have secret agreement with labels and used all the content as a collateral,
      or most likely union retirement plans are fully committed to 5 billions of sawdust.

      As we see most of the lenders are IPO executors.


      Reply

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