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Spotify share trading hints at $25bn flotation for music streaming giant

03 April 2018

Spotify, the leader in streaming music services worldwide, had its reference price set by the New York Stock Exchange at $132 as it starts trading on Tuesday. That being said, experts are now estimating a price of $132 per share. It also enables it to go public without having to hire an investment bank or broker to underwrite the process.

Even if Spotify proves immune to the threats of Apple and Amazon, there's still that wacky direct listing to think about. Spotify gives access to huge music libraries instead of making users pay to buy CDs or to download tracks or albums.

Besides blending technology with a subscription model to reshape a popular form of entertainment, Spotify and Netflix have a common executive in their lineage.

Given that question mark, and a number of others, what follows are some thoughts on Spotify as it waits out the last hours of its life as a private company.

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A successful trading debut for the music-streaming company won't be judged on whether the shares jump 30 per cent - the usual benchmark for a triumphant initial public offering.

Daniel is the Founder and CEO of Spotify, where he sets the company's overall vision. Swift famously removed her music from Spotify and other streaming services in 2014 but made her back catalog available to them once again past year.

There are certainly a lot of impressive numbers surrounding Spotify.

Spotify is now a $30bn publicly traded company that made a loss of over $1.5bn a year ago. Investors may have to wait a while to see if Spotify can pull off its dream of a stable, low drama listing. (What's more, there is plenty of available cash in private markets for promising tech companies, so many put off listing for as long as possible.) Instead, Spotify's "direct listing" on NYSE will give existing shareholders a way to quickly and easily cash out their stakes in the 12-year-old company.

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The typical IPO favors large investors because it gives banks the first crack at it, but a direct offering allows all sizes of investors a chance at purchasing the stock right away.

The advisers have done the same with potential buyers, the people said.

"Spotify is floating on the stock market at a pretty inauspicious time for the tech industry, which has been rocked by the Facebook data scandal and now potentially faces greater regulation as a result", said Laith Khalaf, senior analyst, at Hargreaves Lansdown.

However, during informal trading Monday, pricing of Spotify appeared as if it were holding up, as it exchanged hands with prices of $132 per share, which gives the company a $23 billion value.

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Spotify share trading hints at $25bn flotation for music streaming giant