Silicon Valley’s top venture capitalists are reportedly making a big bet on streaming music service Spotify. There have been reports for months that Spotify was raising a big round of funding, and now it has closed a $100 million round, according to a report in AllThingsD, which GigaOm says it has independently confirmed.
A Spotify spokesperson declined to comment.
The reported funding values Spotify at $1 billion. It comes from DST (the Russian firm that has made growth investments in most of the big consumer names in the startup world, including Facebook and Zynga), as well as top-tier venture firms Kleiner Perkisn Caufield & Byers and Accel Partners.
The big story with the Spotify has been its long-promised, long-delayed launch in the United States. (It’s already available in Europe.) Reports have been leaking out about Spotify setting the stage for a US launch by sealing deals with the major music labels, and Spotify’s general manager recently hinted that the launch may come in July.
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Previous investors include The Founders Fund and Li Ka-Shing. Founders Fund partner Sean Parker, who was a co-founder at Napster, has called Spotify the company that will finish the job that Napster started.
