On-demand music service Spotify may be planning an initial public stock offering. The Financial Times reports the company obtained a $200 million credit facility at the end of last year from Morgan Stanley, Credit Suisse, Deutsche Bank and Goldman Sachs. A move like this often indicates an IPO is in the works.
Additionally, Spotify recently announced plans to purchase music intelligence platform the Echo Nest, which could lure potential investors.
• • •
Shazam has received a $20 million round of funding, placing the app’s total value at $500 million dollars, according to Billboard. The money could be used for the company’s growing advertising campaign.
Last month Warner Music and Shazam announced a collaboration where the label could use Shazam’s music data to discover rising artists, and sign them to a Shazam-branded label.