Spotify AB has secured about $250 million in new financing that values the music-streaming company somewhere "north" of $4 billion, according to multiple people familiar with the deal.

The round of funding, led by Silicon Valley firm Technology Crossover Ventures, will help fuel Spotify's global expansion plans. While already established in many Western markets, including the U.S., Spotify is aiming to launch its service in more countries, including Japan.

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