Spotify Valued At $30 Billion Following Debut On New York Stock Exchange

Spotify Swiss or Swedish? Whatevs says New York flies the wrong flag

So in order to figure out how much is going out in royalties, one would have to know what Sony was carrying the Spotify stock at on its books before the digital services shares began trading.

It has around 80m more users than its nearest rival, Apple Music, and 25m more paying customers, but posted a loss of €1.23bn a year ago on revenues of €4bn.

The direct listing by the Stockholm-founded company was the largest on record.

Note: To keep the quiz interesting, we've removed generic identifying words from the names of some streaming services, such as "radio" or "music".

The music streamer, however, has yet to turn a profit and faces tough competition.

"Investors are right to have some reservations".




Overcoming Apple Music in terms of investment, Spotify has seen a successful introduction to Wall Street.

'Like many tech companies Spotify comes with an exciting growth story and a few hazard signs too. Another service in the same line of business is Pandora, which has 5.48 million total subscribers. Jeff Bezos has Amazon Music Unlimited with 16 million paying subscribers.

By the end of the session, Spotify's market valuation was $26.5 billion.

Spotify's listing was hotly followed, as it went public via the unusual method of a direct listing, without selling new shares. If it was carried at, say $20 a share previously, that could mean that Sony artists and indie labels would be realizing $31.80 per share in payments. Before you invest, you should read the prospectus in that registration statement and other documents Spotify has filed with the SEC for more complete information about Spotify and its ordinary shares.

Spotify's other top shareholders are co-founders Daniel Ek and Martin Lorentzon, hedge fund Tiger Global and venture capital firm TCV. This article is strictly for informational purposes only.

Though Spotify has not hired traditional underwriters - a move that will save it millions of dollars in fees - it has hired Citadel Securities as a market maker to set the opening price on the NYSE, with help from Morgan Stanley. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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