Spotify Raises Funding At $1 Billion Valuation

Spotify has raised funding that puts them at a $1 billion valuation. Spotify raised $100 million in funding from DST, Accel Partners, and Kleiner Perkins. Spotify has been working on this round of funding for about 6 months. Spotify plans on using this round of funding to pursue a launch for their streaming music service in the U.S. Spotify currently has licensing deals with three out of four of the biggest music labels in the U.S. [AllThingsD]