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