Spotify gets investment interest
Digital music service Spotify is understood to be close to winning new investment from high-profile investors, including the charitable foundation of Hong Kong tycoon Li Ka-shing. The service, which has been widely tipped to challenge the dominance of Apple’s iTunes, wants to raise cash to improve its status in the US. Since launching in the UK and Sweden, it has signed up over 2m users in less than a year. The free service lets users stream music over the internet, and is funded by advertising and subscriptions.. Wellington Partners, the London-based venture capitalists, are also thought to be involved in talks.