Spotify To Raise $100 Million At $3 Billion Valuation: WSJ

$3 BILLION?
NEW YORK, NY - NOVEMBER 30: (L-R) Spotify Founder and CEO Daniel Ek, Rolling Stone Head of Digital Content Bill Crandall, CBS Interactive Music Group President David Goodman, Tunewiki CEO Larry Goldberg and Songkick Founder and CEO Ian Hogarth attend Spotify knocks it out of the park at Stephen Weiss Studio on November 30, 2011 in New York City. (Photo by Charles Eshelman/Getty Images for Spotify)
NEW YORK, NY - NOVEMBER 30: (L-R) Spotify Founder and CEO Daniel Ek, Rolling Stone Head of Digital Content Bill Crandall, CBS Interactive Music Group President David Goodman, Tunewiki CEO Larry Goldberg and Songkick Founder and CEO Ian Hogarth attend Spotify knocks it out of the park at Stephen Weiss Studio on November 30, 2011 in New York City. (Photo by Charles Eshelman/Getty Images for Spotify)

(Reuters) - Spotify is in the middle of a $100 million financing round that could value the music streaming company at just over $3 billion, the Wall Street Journal reported citing sources.

The Journal said Spotify would raise the fresh capital from multiple investors including Goldman Sachs. The WSJ report did not name any other investors.

Spotify has raised capital from outside investors several times since it set up shop in 2006, and was earlier reported to have been looking to secure a capital boost of about $200 million, at a valuation of about $4 billion.

Kleiner Perkins Caufield & Byers, Accel Partners and others have invested about $189 million in the company in its prior financing rounds.

The company has over 15 million active users and 4 million paying subscribers, for its on-demand service, which offers unlimited music streaming of some 18 million tracks.

(Reporting by Himank Sharma in Bangalore)

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