“Music streaming giant Spotify confidentially filed IPO documents with the SEC at the end of December, Axios has learned from multiple sources,” Dan Primack reports for Axios.
“Spotify is pursuing a direct listing instead of a traditional float, causing both Silicon Valley and Wall Street to pay very close attention,” Primack reports. “If successful, it could change how some tech companies go public.”
“All indications are that Spotify wants to list in Q1, and timing of the confidential F-1 filing would support such a calendar,” Primack reports. “But yesterday came news that the company has been sued for $1.6 billion for copyright infringement.”
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MacDailyNews Take: Spotify is a poor man’s Apple Music. The demographics in this race, as ever, greatly favor Apple in the long run.
Musicians and the music industry undermine themselves by allowing their music to be streamed by “free,” ad-supported outfits. – MacDailyNews, December 17, 2015
Spotify hit with $1.6 billion lawsuit from music publisher – January 2, 2018
Watch out Spotify and Apple Music, here comes Amazon – December 18, 2017
Spotify leads call for investigation into ‘troubling’ Apple and Google app store practices – May 5, 2017
Apple Music passes Pandora and Spotify in mobile usage – March 29, 2017
Spotify hits 50 million paid subscribers – March 3, 2017
Apple Music surpasses 20 million paid members 17 months after launch – December 6, 2016