spotify-streaming

Spotify officially files IPO

The global leader in music streaming services has announced its plan to go public today.

Spotify has filed for a direct listing on the New York Stock Exchange under the symbol “SPOT.” According to the company’s filing with the SEC, Spotify shares recently traded for as high as $132.50 on private markets with a total valuation at $23 billion, according to CNBC.

“We set out to reimagine the music industry and to provide a better way for both artists and consumers to benefit from the digital transformation of the music industry,” the company said in its filing. “Spotify was founded on the belief that music is universal and that streaming is a more robust and seamless access model that benefits both artists and music fans.”

H/T: Pitchfork | Source: CNBC, Bloomberg

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