Spotify raises $526 million in funding to continue battling Apple

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In the aftermath of Apple revealing its own new music streaming service, news has leaked that Spotify has just closed a funding round with $526 million in cash. This puts the Swedish company at a valuation of $8.53, reported the Wall Street Journal, and means they have doubled their total funding to over $1 billion since launching in 2006. The new funding is said to allow Spotify to invest in new expansions and offering new forms of content, as they face a growing rival in the new Apple Music.

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