While it seems JayZ’s Tidal is struggling to gain traction despite its backing from some of the greatest music artistes, Spotify has just raised $350 million in a new round of funding with major commitments from Investment Banking giant, Goldman Sachs.
With this new investment, this brings Spotify’s valuation to $8 billion — up from $5.7 billion last January despite the fact that a profit isn’t predicted to arrive until 2019.
The music streaming site currently has 60 million monthly users, 15 million of which are paying subscribers.
