Spotify prepares its IPO to distance Apple Music
With more than 70 million paying customers, Spotify has twice as many subscribers as Apple Music. And that's not counting millions of users freemium of its streaming service. The music streaming service has opted for a procedure of direct IPO, without issue of new shares or capital raising. A way to save costs associated with a classical IPO. Spotify would like to be listed on the New York Stock Exchange under the symbol "SPOT" and does not intend to raise new funds during this operation. The share price has not yet been set, but according to Reuters estimates, the valuation of the streaming service would be of the order of $ 19 billion. This IPO is expected in the Swedish of the gap with its main competitor Apple Music. Champion of the paid download, Apple did that late of streaming, constrained by the global change uses among music consumers. Since then, the Mountain View company strives to revisit one of the precursors of the sector: Spotify. With his sales of ...