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Spotify Raises $526 Million

Spotify Raises $526 Million

The fundraising attracted investment from a number of funds in Europe and the US and included $115 million from Nordic telecom operator TeliaSonera, which said the two companies would work together on areas such as media distribution, data analytics and advertising.

Spotify’s latest funding round comes as the company gears for new forms of content as it faces a growing set of challengers that now includes Apple Music, with its subscription-based streaming-music service announced on Monday.