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The Sound Of Money

Spotify, the music-streaming service founded by Daniel Ek, is now worth $4 billion after raising $250 million in a new funding round led by Technology Crossover Ventures. Spotify, which has 24 million active users but only 6 million of whom pay a subscription fee, double revenue last year to $571 million but still lost $45 million.

Posted on November 22, 2013, at 12:13 p.m. ET

Daniel Ek, the founder and chief executive of Spotify.
Stringer / Reuters

Daniel Ek, the founder and chief executive of Spotify.

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