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Spotify Raises $1B In Convertible Dept

Spotify has reportedly raised $1 billion in convertible debt from investors. The deal “extends the money-losing company’s runway but comes with some strict guarantees,” The Wall Street Journal reports. More broadly, “Tech startups are increasingly turning to convertible debt -- bonds that can be exchanged for stock -- as investors push back on rich valuations.”

Read the whole story at Wall Street Journal »

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