Spotify goes public, valued at 23 billion dollars

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 almost $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. 

Source: Resident Advisor


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