Regardless of the pending lawsuits, Spotify may just be starting off 2018 better than some expected. In late December, the streaming service filed a confidential registration with the Securities and Exchange Commission and will be listing their shares in the first half of the year.
According to the NY Times, Spotify might be moving forward with direct listing of its shares which in return means no money will be raised. But it’s not all bad—investors and insiders can trade their shares on the open market. Though this is an unusual process, this will save the company time and millions in underwriting fees.
Spotify last raised money from investors in 2015 and at that time they were valued at $8.5 billion. According to Thomson Reuters, they’re at least at $19 billion now. With at least 60 million paying subscribers around the world and an additional 80 million who use its ad-supported free version, Spotify is quickly growing. And this IPO might just raise up their users as well as their value.
If this all takes place as planned, Spotify might just become an even larger driving force in the music industry. It has certainly made quite the impact since it started 10 years ago.