A statement by the company goes like this: (The underwriters advise opening trades on the New York Stock Exchange.) The company relies on the orders on NYSE for the price discovery. So there will be no set price decided by investment banks. The interesting part of the IPO is that there will be no underwriters. (In 2015, Spotify raised around $400 million and the valuation was $8.4 billion.) The company has a valuation over $23 billion based on trading in private markets as high as $132.50 per share. The company had hired Morgan Stanley, Goldman Sachs, and Allen & Co to help in its IPO process. “SPOT” will be the symbol (ticker) on the New York Stock Exchange. Spotify has filed for an initial public offering (IPO). In fact, Spotify leads the race in music streaming industry outpacing Google, Apple, Tidal, and others. But the user base is 36 million which stands no competition to Spotify.

The Closest CompetitorĪpple Music is the closest competitor. The company monetizes free userbase by serving ads. There are over 71 million paid subscribers as of December 2017. Spotify services are available in an incredible 61 countries.

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