Spotify is filing for an unconventional IPO

Music streaming service Spotify is planning to go public. The company is making a "novel" move which it acknowledges is "risky": opting for a "direct listing" rather than the more usual fundraising route. The company will allow its investors and employees to sell shares, and there will be no need to raise more capital or hire an underwriter. It is expected that Spotify will go public in late March or early April when it will appear on the New York Stock Exchange using the symbol SPOT. Although the lack of new shares means there is not a listing price, estimates… [Continue Reading]