Published
Wed, Feb 28, 2018, 20:44
- The Swedish streaming platform filed for a direct listing on the New York Stock Exchange today.
Spotify is going public.
After months of rumours, the Swedish company has filed for a direct listing on the New York Stock Exchange. As CNBC reports, the company could be valued at as much as $23 billion, according to records from Spotify which state that shares have been traded at $132.50 per share on private markets. Spotify will operate under the stock ticker name SPOT.
The filing also included revenue numbers, which reveal that Spotify brought in around $5 billion last year (according to current conversion rates between the Euro and USD), albeit with an overall loss of $1.5 billion.
Spotify is currently the world's largest music streaming platform, with 71 million paying subscribers and 159 million monthly listeners in total spread across 61 countries.