Still unable to turn a profit, but growing and pursuing funding from investors, Spotify is now valued at a modest $3 Billion. Close to completing their latest round of funding worth $100 million, the U.K. company has now tripled their value since last year, but missed their goal of $5 Billion.
With artists pulling out of the service for lack of monetary value and fan engagement, as well as the impending release of Apple's rumored streaming service, the news of Spotify's current value comes as a shock to investors, but certainly not enough to keep heavyweights like Goldman Sachs Group Inc. away. [FACT]