A report today in the Swedish financial paper Dagens Industri says that the Stockholm-based startup is looking for backers at a 35 billion kronor ($5.27 billion) valuation. To put this valuation in context, last November the company had an estimated value of $3 billion around the time that it closed a $100 million round. About half of that last round came from Goldman Sachs, with Coca Cola taking 10% and Fidelity 15%. To date, Spotify has raised $288 million.
At the end of July, when Spotify published its last financial reports a regulatory requirement for companies in Sweden, it posted a loss of $78 million of revenues of $577 million.
Read the full report on | TechCrunch.