NEW YORK (CelebrityAccess) Spotify is set launch its IPO April 3 in what one outlet called “the biggest day in the history of the streaming music business.”
Although that may not be a very long history, the company’s head of investor relations, Paul Vogel, confirmed Spotify will publicly list share on the NYSE in a “direct listing,” according to Music Business Worldwide.
The company has a valuation of more than $20 billion, according to private share trades, and Universal, Sony, Warner Bros., and Merlin have shares in Spotify worth between $2 billion and $3 billion, with Sony holding a 5.7 percent stake.
The announcement comes hours before Spotify CEO Daniel Ek gives a live presentation to investors and potential investors in New York, MBW said.
