Spotify Announces First Public Trading Date

Opts for direct listing on NYSE.

By
Tech
16,040 Hypes 4 Comments

Last month, Spotify filed for an IPO on the NSYE under the ticker “SPOT” for up to $1 billion USD. The music streaming giant is now set to trade on April 3, however, under non-traditional circumstances. Unlike most IPOs, Spotify has chosen to forgo underwriters, which normally help stabilize a stock offering, as well as a lock-up period, where shareholders are prevented from selling shares. Spotify’s direct listing will be for current shareholders to sell. The company itself won’t sell any stocks on April 3 suggesting pressure to go public from private investors who want to cash out. However, according to Spotify’s Investor Day materials and opinion from CNBC, this move is a vote in confidence towards its valuation.

The IPO announcement follows news of a $1.6 billion lawsuit against Spotify for music license technicalities. Let us know your thoughts on the filing and if you’ll be purchasing. In other tech news, Android Wear is now rebranded to Wear OS by Google.

Read Full Article

What to Read Next

Spotify Launches First Streaming Device Called ‘Car Thing’
Tech

Spotify Launches First Streaming Device Called ‘Car Thing’

It is being offered at no-cost except shipping to select U.S. customers.

Drake Becomes First Ever Artist to Hit 50 Billion Spotify Streams
Music

Drake Becomes First Ever Artist to Hit 50 Billion Spotify Streams

Setting yet another record.

Spotify Is Raising Its Price
Tech

Spotify Is Raising Its Price

A likely strategy to address non-family subscribers sharing family plans.


Spotify Officially Introduces HiFi Sound Quality Upgrade
Music

Spotify Officially Introduces HiFi Sound Quality Upgrade

With a video of Billie Eilish and FINNEAS explaining the importance of lossless audio quality.

Philippe Starck Designs Hotel Topped By 18th Century-Style House
Design

Philippe Starck Designs Hotel Topped By 18th Century-Style House

“This project is an out-of-scale phantasmagoric architecture.”

Floyd Mayweather Confirms MMA Training With Tyron Woodley
Sports

Floyd Mayweather Confirms MMA Training With Tyron Woodley

“My wrestling game is not that bad. On a scale of 1 to 10, it’s probably a 7.”

atmosLAB Adds an "Animal" Cap to This Weekend's Drop
Fashion

atmosLAB Adds an "Animal" Cap to This Weekend's Drop

A journey into the wild.


Daniel Arsham Shows off New Work in Exclusive Studio Tour
Arts

Daniel Arsham Shows off New Work in Exclusive Studio Tour

The artist talks his creative process before hitting POW! WOW! Hawaii.

The adidas UltraBOOST Clima "Triple Black" Arrives Early
Footwear

The adidas UltraBOOST Clima "Triple Black" Arrives Early

Back in black.

atmos & Jason Markk Introduce the "Beast" Premium Sneaker Cleaning Kit
Footwear

atmos & Jason Markk Introduce the "Beast" Premium Sneaker Cleaning Kit

For all your high-end shoecare needs.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.