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This article was published on May 12, 2017

Spotify might forgo IPO and list directly on NYSE this year

Spotify might forgo IPO and list directly on NYSE this year
Rachel Kaser
Story by

Rachel Kaser

Internet Culture Writer

Rachel is a writer and former game critic from Central Texas. She enjoys gaming, writing mystery stories, streaming on Twitch, and horseback Rachel is a writer and former game critic from Central Texas. She enjoys gaming, writing mystery stories, streaming on Twitch, and horseback riding. Check her Twitter for curmudgeonly criticisms.

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.

According to CNBC, Spotify will register its shares on the public exchange. This move has been rumored for weeks. According to the Wall Street Journal, it could save Spotify millions in fees.

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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