Spotify Looks to U.S. IPO
CBJ — Sources say that music streaming service Spotify has filed for an initial public offering with the U.S. Securities and Exchange Commission (SEC) and is moving ahead with a direct listing in the first six months of this year. There has still be no official confirmation from Spotify about this alleged move. The news was first reported by Axios.
If Spotify goes ahead with the plans as reported, it would make it the first major company to carry out a direct listing, an unconventional way to pursue an IPO without raising new capital.
Spotify was estimated to be worth as much as $19 billion last year making it the largest international music streaming company. Its main rivals are Apple and Amazon.com.