The Wall Street is abuzz with rumors that the music streaming service Spotify is pushing towards raising an investment of about 500-600 million dollars. This amount will boost up Spotify's total investment to $1 billion. Spotify is a music streaming service that lets you play music on your devices on the go.It is battling with competitions from Pandora Rdio and Google Play music. According to the sources from Spotify it has confirmed that Spotify has an active registered user base of 15 million and a monthly user traffic of 60 milion. The service is in talks with Goldman Sachs which valued the company at staggering $5 billion and is planning the next round of investments, this type of investment could delay the initial public offering up to next year. Spotify reportedly told investors that if they backed the company it would give them a guaranteed return once it has its IPO, according to the Journal. Last year it was rumored that Spotify was marching towards an IPO after it reportedly took out a $200 million line of credit from major banks that could eventually become its underwriters. The main component for the success of the service is the willingness of the App to let users stream music for free and charges $9.99 per year for offline listening and no ads services. Spotify is currently valued at more than $5 billion, according to the Journal. So far, it's raised $537.8 million in seven rounds of funding from 17 investors, including Kleiner Perkins Caufield & Byers, Accel Partners and Goldman Sachs.