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RAIN 2/21: Spotify valued at $1 billion as more investment looms

Posted on: 02/21/2011


TechRadar reports that a number of venture capitalist sources, including Digital Sky Technologies (DST), has valued on-demand music service Spotify at $1 billion. The Swedish company also seems to be in store for more investment — DST is said to be leading a $100 million round of fundraising.

DST is the same company “that has given significant backing to Facebook, Groupon and Zynga,” reports TechRadar (here).

Spotify is not yet available in the U.S. as the company has not yet reached agreements with all major record labels.


Consumer electronics company Archos has thrown their hat into the tabletop Wi-Fi radio game with the Arnova. The device features a 3.5” touchscreen and access to over 12,000 Internet radio streams. It’s “ready to exterminate your clock radio, your Squeezebox too,” writes Engadget.

The Arnova also can play music on an SD card or stored on your network. Interestingly, it also streams over 1,500 Internet TV channels. No word on pricing yet. Engadget has more coverage here.


Long-time British amp maker Naim has launched a streaming music hub capable of streaming Internet radio and home music collections. Called UnitiQute, the gadget is “a posh hi-fi plaything,” according to Wired. The publication put the device through its paces and found lots to like.

“Naim has been building amps for 40 years, and its experience shows…Low-key looks, but built like a tank.” On the other hand, the UnitiQute costs $2,000, so it definitely “isn’t for the DIY crowd — U.K.-built hi-fi has never been for budget-minded buyers. But if you want a compact high-performance, plug-and-play, all-in-one music player, it’s tough to beat.” Find the full review here.

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