Spotify secures $200m credit line, furthering IPO speculation

First they hired a US financial reporting specialist, then Spotify acquired US music intelligence company The Echo Nest, and now the Swedish music streaming service has secured a $200 million credit line, furthering rumours they are inching towards an initial public offering in the US.

One banker source of Reuters speculated around the time of the hiring of a reporting specialist that a share listing could value the firm at as much as $US7-8 billion.

The popular streaming company has certainly bolstered its offering over the past few months, launching its service in twenty new territories, announcing a free streaming service for mobile devices, lifting all time-based playback restrictions from its free tier across all markets, partnering with last.fm, and introducing merchandising options for artists.