Investors say Spotify is more expensive than DST Global evaluates it

Investors say Spotify is more expensive than DST Global evaluates itInvestors led by Goldman Sachs, who have invested $100M in Swedish online music service Spotify, assessed the company at $3B, according to Financial Times (FT) with reference to its sources.

New Investors of the service evaluated it at three times more expensive than the consortium led by DST Global of Alisher Usmanov and Yuri Milner, who invested $100M in Spotify in the summer of 2011.

After receiving the money from DST Global, Spotify enters the U.S. market and becomes one of the few European start-ups that can be counted among the league of Twitter, Square payment service, or service for travellers Airbnb, FT says.

The cost of using Spotify service is 10 euros, dollars or pounds a month for unlimited access to a collection of 18M music tracks, although limited free listening is also provided. The service has more than 15M active participants, including more than 4M paying subscribers. Experts say that the company does not own music content that it offers to users or exclusive rights to it. It means that the company completely depends on larger labels.