Spotify Sets April Date to Begin Public Trading

Spotify Sets April Date to Begin Public Trading

Spotify Sets April Date to Begin Public Trading

In a twist on a traditional IPO roadshow, Spotify co-founder and Chief Executive Daniel Ek and other senior executives took the stage at a studio space in front of potential investors in Manhattan's SoHo neighborhood, while the public could access the presentation through a live stream.

"You won't see us ringing any bells or throwing any parties". They said Spotify doesn't need the money, but they want to give existing shareholders the opportunity to easily sell shares on a public, liquid exchange.

Spotify is available in more 4 countries since this week. At the same time, net financing costs of 855 million euros pushed up operating losses to 378 million euros from 349 million euros. And while Ek conceded that "I think we could have done a better job of telling our story", he pointed to the music industry's 3% and 6% growth in 2015 and 2016 respectively, and noted that it was driven by streaming, and of course Spotify is the world's largest streaming platform.

Tomas Otterbeck, an equities analyst with Swedish research firm Redeye, said he was impressed by McCarthy repeating the idea that "We are playing a market share game" and that Spotify could reach 100 million paying subscribers by early next year.

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Apple, Spotify, Google and other services charge around $9.99 a month for music subscriptions.

Spotify's current valuation is now above $20bn, according to some recent private share trades between investors in the company. Based on private transactions, it is valued at roughly $19bn, according to Reuters calculations.

He also confirmed that Spotify will announce financial guidance for Q1 2018 on March 26, the week prior to trading.

Will Spotify's IPO be a hit? The service has 159 million users, with 71 Million of them being paid users.

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