Spotify is kind of a big deal. The streaming goliath recently went back in for more funding and are nearing a deal worth a reported $400 million from Goldman Sachs and the Abu Dhabi sovereign wealth fund. That would place the company’s valuation at a whopping $8.4 billion. That makes Spotify worth twice as much as Pandora, and worth more than the $8 billion offered for the world’s largest music company, Universal.
This news comes as another big landmark for a company that seems to be pioneering what a streaming service can do, and proves that–despite the argument that the cost of a streaming subscription should be lowered — investors believe Spotify’s best days lie ahead.