Spotify goes public, reportedly valued at $23 billion

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  • The Swedish streaming platform filed for a direct listing on the New York Stock Exchange today.
  • Spotify goes public, reportedly valued at $23 billion image
  • Spotify is going public. After months of rumours, the Swedish company has filed for a direct listing on the New York Stock Exchange. As CNBC reports, the company could be valued at as much as $23 billion, according to records from Spotify which state that shares have been traded at $132.50 per share on private markets. Spotify will operate under the stock ticker name SPOT. The filing also included revenue numbers, which reveal that Spotify brought in around $5 billion last year (according to current conversion rates between the Euro and USD), albeit with an overall loss of $1.5 billion. Spotify is currently the world's largest music streaming platform, with 71 million paying subscribers and 159 million monthly listeners in total spread across 61 countries.
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