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Coke Now a Major Investor in Spotify

After announcing a massive, global advertising partnership earlier this year, Coca-Cola is now becoming a major financial backer of Spotify. As part of a now-completed, $100 million mega-investment led by Goldman Sachs, Coke is tossing a cool $10 million into the pot. That's according to the New York Times, which also noted that Goldman Sachs is contributing $50 million (instead of the full $100 million as originally assumed). Fidelity Investments is understood to be placing a $15 million bet, with existing investors filling out the rest. (Digital Music News)