Via Billboard & AlLindstrom

Spotify is close to wrapping up a $100 million round of funding at a valuation of $3 billion as it prepares for expansion into Latin America and expanding further across Europe in 2013.

The latest round of funding, confirmed by a source familiar with the company’s plans, is at a valuation level that falls significantly short of previous reports of $4 billion. The digital music streaming market leader is expected to close imminently within the next week or two with several investors including Goldman Sachs, according to the source. News of the funding and Goldman Sachs’ involvement was first reported by the Wall Street Journal.

Spotify, founded by entrepreneur Daniel Ek in his native Sweden just six years ago, said late in July that it has 15 million active users and 4 million paying users. One million of those paying users are in the United States. But the start-up, which is expected to generate around $900 million in revenue this year, is not expected to turn a profit anytime soon.

Ek said in recent interviews that he is especially focused on aggressively growing Spotify around the world before worrying about whether his company will issue a public offering or seek a buyer. To that end, the company is currently advertising for key staff in new markets like Mexico City and Poland.