Business Insider is reporting that Spotify is in talks with an investor who wants to buy the streaming service.
According to the article, Spotify will be in talks for $3 billion.
The company is also seeking to raise $50 million to expand its business.
The article says the deal is expected to close by the end of 2019.
Spotify’s CEO Daniel Ekberg says in the article that the deal has already begun and he’s working with investors.
It’s possible Spotify could use its own funding to get to the final stages of its fundraising.
Ekberg said the company is working with an unnamed investor, but that’s not certain.
The site reports that Spotify has a valuation of between $2 billion and $3.5 billion.
We’ll be covering the news as it becomes available.