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Spotify Seeking Fresh $500M

Spotify is in the process of raising a fresh $500 million from investors in the form of convertible notes, TechCrunch reports, citing a story in Swedish newspaper Svenska Dagbladet. “This newest round of funding would come in the form of a loan, where Spotify will pay 4% on the borrowed money,” TC notes. “As this is not an equity round, those who contribute … will be able to convert that loan into Spotify shares down the line.”

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