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<title>Haaze.com / hollissoso / Published News</title>
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<title><![CDATA[Will Spotify&'s funding from Russia&'s DST bring its streaming music to the US]]></title>
<link>http://www.haaze.com/story.php?title=will-spotifyrsquos-funding-from-russiarsquos-dst-bring-its-streaming-music-to-the-us</link>
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<pubDate>Mon, 30 Nov -001 00:00:00 +0000</pubDate>
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<description><![CDATA[European streaming music startup Spotify is raising a big round of financing from Russia&amp;'s DST, the investment company that has backed Facebook, Groupon and Zynga.If it is raising a big round, then the company may very well join the club of extremely valuable tech startups in an age when big private equity companies such as DST are willing to provide them with lots of money in lieu of an initial public offering. DST is the lead investor in the deal, which could include other investors.Spotify provides cloud-based streaming music in Europe. But it hasn&amp;'t  entered the US market, even though rival Apple has purchased the Lala  music streaming service and is expected to come out with its own music  streaming service. Music streaming is considered more appealing than the  iTunes download model, since users can listen to their music anywhere.The deal values the London-based company at about $1 billion, according to TechCrunch. The round may be $100 million or more, TechCrunch said, citing anonymous sources. The company has raised $112 million to date, including a small round a year ago from Founders Fund.DST has written huge checks at very high valuations, but the company headed by Yuri Milner has proven very shrewd. It&amp;'s Facebook investment, for instance, has skyrocketed in value since DST bought the Facebook shares.Next Story: Mentez to launch Zynga prepaid cards in Latin America Previous Story: Arab revolts: Another good week for social media, a bad week for dictatorsPrintEmailTwitterFacebookGoogle BuzzLinkedIn      DiggStumbleUponRedditDeliciousGoogleMore&amp;8230'          Tags: streaming musicCompanies: Apple, DST, Facebook, spotify, ZyngaPeople: Yuri Milner          Tags: streaming musicCompanies: Apple, DST, Facebook, spotify, ZyngaPeople: Yuri MilnerDean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat. Have news to share Launching a startup Email: tips@venturebeat.comVentureBeat has new weekly email newsletters.  Stay on top of the news, and don't miss a beat.<br/><br/>0 Vote(s) ]]></description>
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