Spotify to launch in 85 new markets, reach over a billion people

The Swedish company’s shares rose as much as six percent to a record high of $387.44.

Spotify said on Monday that it would nearly double its market presence by launching in 85 new markets in the next few days, making the music streaming service available to more than a billion people around the world. The company’s shares, which were down in early trading, reversed course to rise as much as six percent to a record high. The Swedish company, which started its service more than a decade ago, is currently available in 93 countries and has 345 million monthly active users.