If Apple does reject Spotify's iPhone app, a $50 million funding round may ease the pain.
Not from Apple though. The Financial Times reports that Spotify is set to trouser the new investment from existing investors, UK VC firm Wellington Partners, and Hong Kong tycoon Li Ka-shing.
The $50 million round would value Spotify at $250 million. In an intriguing twist, the FT suggests the company is in talks with a major label to become a strategic investor.
The new funding round will help the company with its US launch, which has been mooted for later this year.
However, there's still no news on whether Spotify's official iPhone application will be approved or rejected by Apple.
It was submitted last week, with Spotify saying it expected to be approved having followed Apple's development guidelines.
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