Spotify moves closer to suspected IPO with new hiringOpen Graph Default

Spotify moves closer to suspected IPO with new hiring

Streaming titan Spotify may be on the verge of going public.

Paul Vogel, a former employee of Barclays, was recently hired as Spotify’s first-ever Head of Investor Relations, reports The Fader. The hire might signal a move to go public in an effort to raise capital and deepen its expansion as the world’s most powerful music streaming platform. Currently at 30 million paying subscribers and counting – more than any other competing platform – now would be a prime opportunity for Spotify to become a publicly traded and owned company.

Despite reporting an increase in both revenue and losses in 2015, going public could be a major component of the streaming service’s long-term strategy to increase its international presence.

Stay tuned to Dancing Astronaut for further updates.

Via: The Fader

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