Spotify Files to Go Public on NYSE

According to a source familiar with the situation, the world’s largest paid music-streaming service Spotify has filed to go public on the NYSE.

Rather than an initial public offering, Spotify is instead trying for a direct listing. This will allow private stakeholders to begin trading their shares on a public exchange.

It would be a first for the New York Stock Exchange which even needed to ask the SEC first for permission to change its rules for this occasion and allow Spotify to bypass protocol.

It was last month that Spotify sent confidential documents to the SEC.

The company has a valuation of around $15 billion and was founded in Sweden. It has more than 140 million active users in 61 countries.