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Spotify reportedly close to getting another $200 million in funding

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Spotify is closing in on another $200 million in funding from Technology Crossover Ventures, a VC firm that previously backed Facebook, (S FB) Netflix (S NFLX) and Groupon, according to a report from Sky News. Spotify previously raised $288 million, and recent reports indicate that the new funding could value the company at $5.75 billion. Spotify said in March that it had 6 million paying subscribers and 24 million active users.