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Spotify to Apple: You want a music war? You've got one / Fortune

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Spotify's new financing round gives the company a war-chest with which to go after Apple.

You can almost hear the clanking of armor and the clash of swords from Spotify as it gears up to go head-to-head with Apple for dominance in the streaming music industry. And since every army needs a hoard of gold to finance such a battle, the company just boosted its coffers with a massive $526 million financing round that gives the money-losing venture a theoretical market value of more than $8 billion.

That means Spotify is worth more than twice as much as Pandora - at least in the rarified, non-public marketplace that is the venture capital industry. As one wag put it on Twitter, clearly the answer to a decade or so of music piracy is to just get VCs to subsidize free music for everyone.  READ THE FULL Fortune ARTICLE

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