European online music service Spotify, which offers streaming audio tracks on demand, is currently closing a round of financing of $100 million or more, reports TechCrunch from unnamed sources. DST is said to be leading the deal, which would value Spotify at around $1 billion.

According to Russian industry experts quoted by Russian business daily Vedomosti, this deal might be a means for DST to legalize the music content of its sister holding Mail.ru Group, a prominent Russian Internet player. Mail.ru Group, owner of the country’s leading social networks, was launched on the London Stock Exchange in Oct. 2010.

Update March 21, 2012

DST contributed $37.5 million to the round, Bloomberg reported based on an investor presentation of the Russian fund.

 

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  1. […] have been chasing opportunities around the world, while DST’s cash has fueled Airbnb, Alibaba, Spotify, Twitter and several other top Internet […]

  2. […] have been chasing opportunities around the world, while DST’s cash has fueled Airbnb, Alibaba, Spotify, Twitter and several other top Internet […]

  3. […] Global funds continued investing in leading international Internet companies, including Airbnb, Spotify, Twitter, Zalando as well as in German incubator Rocket Internet and Chinese e-commerce […]

  4. […] Global funds continued investing in leading international Internet companies, including Airbnb, Spotify, Twitter, Zalando as well as in German incubator Rocket Internet and Chinese e-commerce […]

  5. […] DST Global funds continued investing in leading international Internet companies, including Airbnb, Spotify, Twitter, Zalando as well as in German incubator Rocket Internet and Chinese e-commerce giants […]

  6. […] DST Global funds continued investing in leading international Internet companies, including Airbnb, Spotify, Twitter, Zalando as well as in German incubator Rocket Internet and Chinese e-commerce giants […]

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  9. […] DST Global funds continued investing in leading international Internet companies, including Airbnb, Spotify, Twitter, Zalando as well as in German incubator Rocket Internet and Chinese e-commerce […]