Spotify has raised $ 1bn in convertible debt from investors including TPG , Dragoneer Investment and clients of Goldman Sachs Group . in order to purchase bonds that can be exchanged for stock . Spotify has indicated that it plans to go public in the next two years , but will pay annual interest on the debt at 5 % with an increase of 1 % every six months until this happens , or until it reaches 10 % . Dragoneer and TPG are expected to share in $ 750 m of the deal , with the clients of Goldman Sachs Group funding the rest . Relevance : Spotify , which operates in the same space as InternetQ 's Akazoo , is stepping up its expansion plans .
Spotify has raised $1bn in convertible debt from investors including TPG, Dragoneer Investment and clients of Goldman Sachs Group. in order to create bonds that can be exchanged for stock. Spotify has indicated that it plans to go public in the next two years, but will pay annual interest on the debt at 5% with an increase of 1% every six months until this happens, or until it reaches 10%. Dragoneer and TPG are set to share in $750m of the deal, with the clients of Goldman Sachs Group funding the rest. Relevance: Spotify, which operates in the same space as InternetQ's Akazoo, is stepping up its expansion plans.