Spotify on the brink of securing $50m investment

The Financial Times (London) reveals that big investment Spotify wanted a few weeks back is almost sorted:

The Li Ka Shing Foundation, the Hong Kong tycoon’s charitable arm; Wellington Partners, London-based venture capitalists, and others are closing in on a total investment of up to $50m, a bigger amount than expected that values Spotify at $250m (£148m), according to people familiar with the process.

Of this, the service was set to raise about $20m from Wellington and existing backers.

Useful. Another snippet of pleasing information:

It is also talking to another strategic investor, which analysts said was likely to be from the music industry. Spotify has to pay a royalty for every song it plays, regardless of advertising revenue. Selling a stake to a record label would allow it to negotiate better terms.