The Week: City news - Spotify eyes $50m injection

Spotify is understood to be close to securing about $50 million worth of investment as it prepares to break into the US market.

Reports have suggested that the Hong Kong tycoon Li Ka-shing is interested in investing in the company, as well as the London-based venture capitalist company Wellington Partners. The $50 million investment would value Spotify, which has more than two million subscribers, at $250 million.