Business

Spotify Rival Deezer Strikes SPAC Deal Valuing It at About $1.1 Billion



PARIS—French music streaming service Deezer is merging with a special-purpose acquisition firm and aiming to go public at a €1.05 billion, or about $1.13 billion, valuation, the businesses mentioned.

The Paris-based competitor to Spotify Technology SA and different music streamers has 9.6 million subscribers and generated income of €400 million in 2021, Deezer mentioned in an announcement. The music streaming service presents listeners a catalog of greater than 90 million songs, in addition to podcasts, audio books and radio channels.



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