Spotify Raises $1 Billion In Convertible Debt: Now What?

The company also indicated it will have an IPO in the next two years.

Music streaming service Spotify has raised $1 billion in convertible debt, the Wall Street Journal reports. The deal will give Spotify cash to keep running its business and paying the bills as it faces ever-more-fierce competition from the likes of Apple Music, Tidal, and Pandora.

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