• Sweden edition
 
Google in failed bid for Sweden's Spotify
Photo: Spotify

Google in failed bid for Sweden's Spotify

Published: 23 Jul 2014 08:06 GMT+02:00
Updated: 23 Jul 2014 08:06 GMT+02:00

The Journal cited an unnamed source as saying that Sweden-based Spotify was asking for more than $10 billion, despite being valued at about $4 billion in its latest round of equity funding.

Spotify is the world's leading service for streaming music on the Internet, claiming 40 million users in 56 countries as of May.

While the bulk of Spotify users opt for advertising support versions of the service, the company reports having 10 million subscribers to an ad-free option.

In a letter filed late last year with regulators at the US Securities and Exchange Commission, California-based Google said that it planned on spending $20 billion to $30 billion acquiring companies or technology abroad.

Google also revealed that it had recently looked into buying a foreign company, which it did not name, for from $4 billion to $5 billion but that the deal did not work out.

Google has its own music service at its Play online shop and after failing in its bid for Spotify, turned its affections towards startup Songza.

Songza is a free online streaming music service that recommends tunes based on what people might be in the mood to hear.

Financial terms of the deal disclosed early in July were not disclosed, but unconfirmed online reports valued the deal at around $15 million.

Songza suggests playlists based on where people are and what they are doing, such as starting a day at home; grinding away at an office, or out exercising.

It has applications tailored for mobile devices powered by Apple or Google-backed Android software.

Songza features that have resonated with users will be woven into Google Play Music and YouTube where possible, the California-based technology titan said in a post at its Google+ social network.

New York-based Songza has been likened to Spotify-rival Pandora, which has a leading ad-supported streaming music model.

Google, Amazon and Apple have music services that compete in a market where Pandora and Spotify have found success.

Apple in May bought Beats Music and Beats Electronics in a deal worth $3 billion to bolster its position in the hotly contested online music sector.

Apple executives said Tuesday that the Beats buy should be completed by the end of September. Beats reportedly has several hundred thousand paying subscribers.

The move is expected to help the iPhone, iPad and iPod maker -- a pioneer in digital music with its wildly popular iTunes platform -- ramp up its efforts to counter the successful models of streaming services like Pandora, Spotify and others.

For more stories about Sweden, join us on Facebook and Twitter

Your comments about this article

Today's headlines
National
Chainsaw man destroys house in family feud
The man used a chainsaw to destroy most of the Lidköping home. Photo: Shutterstock

Chainsaw man destroys house in family feud

A man in central Sweden has gone on a rampage with a chainsaw after a family housing dispute took an unexpected turn. READ  

National
Man frames beggar with stolen tablet computer
The beggar was detained for almost 24 hours after the accusation. Photo: TT

Man frames beggar with stolen tablet computer

A man in southern Sweden has landed in hot water after he stole a tablet computer, gave it to a beggar, then reported her to the police. READ  

Stockholm 'sub hunt'
Sweden ready to use force to surface sub
The Swedish Armed Forces have sent out 200 troops. Photo: TT

Sweden ready to use force to surface sub

UPDATED: Sweden's military has announced that if it finds a suspect foreign vessel in the Stockholm archipelago, it is prepared to force it to the surface "with weapons if necessary". READ  

Stockholm 'sub hunt'
Sub hunt: 'There is something out there'
Former navy officer Bosse Linden in Vaxholm. Photo: Maddy Savage

Sub hunt: 'There is something out there'

Stockholm's archipelago is the focus of the biggest military operation in Sweden since the Cold War. The Local is in the region's capital, Vaxholm, to see what residents make of the drama. READ  

Presented by CurrencyFair
CurrencyFair: Why it pays when making overseas transfers
CurrencyFair co-founder Brett Meyers

CurrencyFair: Why it pays when making overseas transfers

Tired of losing money when you send cash back home? Join other expats in Sweden who avoid bank fees and hidden charges by sending money internationally with CurrencyFair, an online marketplace where secure transactions are faster and cheaper. READ  

European Union
Extremist saves Sweden Democrats' EU group
Sweden Democrat leader Jimmie Åkesson. Photo: TT

Extremist saves Sweden Democrats' EU group

The EU group that bound several Eurosceptic parties including the Sweden Democrats has been saved by an MEP from a far-right Polish group, just a week after it appeared to have crumbled, according to a UK press report. READ  

Stockholm 'submarine' hunt
Timeline: Mystery 'submarine' in Stockholm
Sweden's Armed Forces are out in force after reports of a foreign vessel in the Stockholm archipelago. Photo: TT

Timeline: Mystery 'submarine' in Stockholm

The world has had its periscope on Sweden since the Swedish military launched an extensive hunt for what is rumoured to be a damaged Russian submarine in the Stockholm archipelago. Here is the timeline of events so far. READ  

Business & Money
Profit leap for Swedbank
A branch of Swedbank in Malmö. Photo. TT

Profit leap for Swedbank

Swedbank has seen its profits rise higher than expected. READ  

New coalition
Sick pay U-turn from Sweden's new coalition
Stefan Löfven has changed his strategy on sick pay. Photo: TT

Sick pay U-turn from Sweden's new coalition

Small businesses won't face rising sick pay costs, following a policy reversal from Sweden's new coalition government. READ  

Stockholm 'submarine' hunt
Vessel hunt continues at 'full strength'
Minehunter HMS Koster takes part in the search in the Stockholm archipelago on Sunday. Photo: Marko Säävälä/TT

Vessel hunt continues at 'full strength'

The search for a suspected foreign vessel in the Stockholm archipelago continues with "full strength" on Tuesday morning, according to Sweden's armed forces. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
Property of the week: Malmö
Gallery
PHOTOS: 'Foreign activity' in Swedish waters
National
Sweden deploys troops over underwater threat
Gallery
People-watching: October 19th
TT
Society
QUIZ: How good is your Swedish?
Blog updates

19 October

Getting it (Blogweiser) »

"Follow Joel Sherwood on FB Few watch baseball in Sweden. This is excellent when your team loses..." READ »

 

17 October

Editor’s Blog, Oct 17th (The Local Sweden) »

"Hi readers, Here’s the whole week of news in just 60 seconds. The most-read story was about a..." READ »

 
 
 
Business & Money
Get your own office in Gothenburg or Stockholm - free for a day
National
A Touch of Scandinavia: Reindeer in the kitchen
Lifestyle
What's on in Sweden: October 17th - 24th
Society
The nudity... and nine other things expat men notice in Sweden
Gallery
People-watching: October 15th
Gallery
Your views: Should outdoor smoking be banned in Sweden?
Business & Money
Sweden has 'large hole' in finances
Sponsored Article
Introducing... Finding a job in Stockholm
Society
Monster salmon caught in northern Sweden
Gallery
Property of the week: Lorensberg
National
Scandinavia's child bride
National
Ebola crisis: How is Sweden preparing?
Lifestyle
Sweden's The Bridge to become 'more Danish'
Business & Money
How Sweden is becoming a cashless society
Gallery
Stockholm Burlesque Festival 2014
National
How a little red horse became a symbol for Sweden
Gallery
People-watching: October 12th
Business & Money
The hottest start-ups from southern Sweden
National
What's on in Sweden: October 10th - 17th
National
Stockholm is 'best' region for well-being
Gallery
People-watching: October 8th
National
Five facts to know about Patrick Modiano
Society
My Swedish Career: A French fashionista in Sweden
Society
Swede's anti-bully Facebook tale goes viral
Society
Have you seen Sweden's viral subway cancer campaign?
National
Isis: Swedes linked to Turkish prisoner swap
National
Should Swedes be banned from buying sex abroad?
Gallery
Fredrik Reinfeldt's leaving presents
National
Five Swedish TV shows you shouldn't miss
Gallery
A tool belt, a casserole, and a book. Fredrik Reinfeldt's parliament gifts
TT
Lifestyle
Top five winter festivals in Sweden
TT
National
Sami reindeer herders win mine reprieve
Gallery
Property of the Week: Gamla Enskede
Sponsored Article
How to catch the first lobster of the year
Politics
Ten new minister faces you should know
Tech
First womb transplant baby in world born in Sweden
Gallery
People-watching: October 5th
National
What's on in Sweden
National
Sweden rethinks Afghan translators' protection
Society
Interview with Geena Davis: 'I want to be in a Swedish movie'
Team SCA
Sponsored Article
All-female SCA team takes off on Volvo Ocean Race
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

1,006
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN