Spotify Files to go Public

spotify

CBJ — Spotify has filed to go public on the New York Stock Exchange.

The popular music streaming service had 71 million paying users as of the end of December, and about twice that many users who listen for free with ads included. The company’s customer base is growing fast, but Spotify also said it lost $1.5 billion last year in the filing.

It’s not immediately clear when the company would go public, but based on the filing it would be soon.

It is expected to be a direct filing as opposed to a traditional IPO.

@CanBizJournal

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