Published on June 2nd, 2017 | by Sofia Vida0
Streaming Music Company Spotify Could Be Ready For Wall Street Soon
According to someone familiar with the matter who spoke to Reuters, Spotify, the streaming music service, could be ready for an IPO within a year.
This is surprising as the company’s co-founder Martin Lorentzon said on a Swedish radio Ekot that a listing was not in the company’s future.
According to Reuters who reported this last month, Spotify has been working with Morgan Stanley, Goldman Sachs, and Allen & Co and was on its way to becoming the first major company to carry out a direct listing on the NYSE in late 2017 or early 2018.
Lorentzon shot rumors down this Friday and said there were no plans for a listing. He told Ekot, that the firm had not “gotten anywhere and there is nothing planned regarding that.” He continued, “I am not saying it is fake news, but half of what the media writes is usually correct and half is usually not.” The person speaking to Reuters, did say “it would be within 12 months from now.”
I guess this is just something we have to wait and see about it. The company most recently was valued at $13 billion.
“Martin is our co-founder and a board member, but not a spokesperson for the company. Spotify hasn’t confirmed any definitive plans to go public. It remains an option for us,” said Spotify in a statement on Friday.