Spotify Almost Sold To Google For $1 Billion [RUMOR]
Google Inc. (NASDAQ:GOOG) almost acquired Spotify for $1 billion according to an anonymous source with TechCrunch. Even though there was a chance that the source could have been way off, TechCrunch dug deeper into it.
It turns out that there is a rumor that Apple and Spotify had on and off discussions about an acquisition, but the process is still early. Last year when Apple bought out Lala, Spotify was in discussions with Google.
The deal almost happened and Google was going to pay almost $1 billion. The deal fell through because Google wanted all the label deals to be grandfathered in and Spotify wanted a $800 million walk away fee if the deal had faltered. If Spotify was acquired, new music label deals would have to be renegotiated by Google.