Spotify Rival Deezer Reaches SPAC Deal Valuing It at Around $1.1 Billion

PARIS — French music streaming service Deezer is merging with a special-purpose acquisition company and aims to go public at a valuation of 1.05 billion euros, or around $1.13 billion, the companies said. .

The Parisian competitor to Spotify Technology SA and other music broadcasters has 9.6 million subscribers and generated revenue of 400 million euros in 2021, Deezer said in a statement. The music streaming service offers listeners a catalog of more than 90 million songs, as well as podcasts, audiobooks and radio channels.


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