Spotify’s office in Stockholm. Photo: Lars Pehrson
Sky News, citing sources in the financial market who say that TPG may invest as much as $ 500 million, equivalent to 4, 3 billion in Spotify.
Swedish Dagbladet revealed a month ago that Spotify was about to take the money in the form of a convertible, where investors only lend money to a later stage to convert the loan to shares. Then it was stated that the entire kovertibellånet would amount to $ 500 million, but according to Sky News Spotify has the option to double the amount to 1 billion dollars.
If TPG, which is one of the world’s largest private equity firms, choosing to invest this means Spotify is likely to get the equivalent of over 8 billion in new capital, according to news website Breakit.
Financial Times previously revealed that Spotify will probably use the money for acquisitions. Perform Spotify transaction with TPG and other investors, there are currently two competitors out there for sale:
- Tidal – we reported yesterday that Spotify held talks with Jay-Z’s music service on a deal . The price tag on the Tidal is just under 1 billion.
- Pandora – the US music service must have hired investment bank Morgan Stanley to find a buyer. After the data was leaked, the stock market value of Pandora increased from $ 1.8 billion to just over $ 2.3 billion. If Spotify would make a bid offer will likely be through a combination of shares and cash.
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