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One day after Apple announced a new music streaming service, Spotify closed a massive new round of funding. According to The Wall Street Journal, Spotify has raised $526 million from investors, and the company is now valued at $8.53 billion dollars.
Re/Code reports that Spotify also announced is has more than 20 million paying subscribers in addition to 55 million active users of the free version. That’s up from the 15 million paid subscribers and 60 million total active users the company reported back in January. We’ll be talking much more about this after the headlines.