Right now, Spotify is definitely the biggest streaming service in the music industry. The platform, which has announced that it has raked in 50 million paying subscribers is apparently getting ready to go public later on this year. Just recently, some sources have disclosed to reuters.com that the company has earned a value of $13 billion. Along with this new valuation, it’s been revealed that Spotify will be the first big company that will do a direct listing on the New York Stock Exchange when it will go public.
This listing means that investors would be provided with immediate access to acquiring the existing shares of Spotify’s stock in the public marketplace and by doing this, the platform will not have to deal with additional bank fees. While the company has yet to make any comments on the listing, it will be interesting to see how things will go down. So, if you are curious to know, make sure to stay tuned!
