New reports say that Spotify is choosing to forgo an initial public offering in favor of a direct listing on the New York Stock Exchange.
Due to there being no IPO, the shares will not have a pre-determined price, though CNBC’s sources value Spotify at a cool $13 billion. As of March 2017, the service has over 50 million paid subscribers.
Spotify is expected to list by the fourth quarter of this year or early 2018.
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