Spotify has raised $100 million from Digital Sky Technologies, Kleiner Perkins and Accel Partners at a $1 billion valuation in advance of its takeover of America. (That’s half Pandora’s valuation in its IPO.) The streaming music service is all the rage overseas, where it has a million paid subscribers (and here too, where some hackers have figured out loopholes to get around its barriers) but has struggled to secure licensing deals with U.S. labels and it took them six months to raise their funding, AllThingsD reports.
But if it can survive the battlefield of copyright law, Spotify’s prospects are bright. Pandora’s IPO is an encouraging sign of the viability of subscription-based streaming music services, and the company recently announced a partnership with Facebook that sounds like a prominent integration, on par with the Photos and Notes apps that come bundled with your Facebook account.
Spotify has a New York office and it’s looking to hire a technical recruiter here, preferably with experience “working at a multi-national company and across multiple locations.” The recruiter should have no trouble finding engineers with music experience, given all the dead music start-ups in New York. Spotify already picked up former Limewire engineer John Pavley as VP of engineering.