Spotify had 71 million paying subscribers and more than 159 million monthly active listeners as of December 2017, positioning the service far ahead of its closest competitor, Apple Music, with just 36 million subscribers. regulators for an initial public offering and is targeting a direct listing in the first half. The company reported nearly $5 billion in revenue for 2017, according to its initial prospectus, though still posted an operating loss of $461.3 million for the year. NEW YORK/SAN FRANCISCO (Reuters) - Music streaming service Spotify has filed confidentially with U.S. 'So while puts us on a bigger stage, it doesn't change who we are, what we are about, or how we operate.' 'Spotify is not raising capital, and our shareholders and employees have been free to buy and sell our stock for years,' CEO Daniel Ek wrote in a blog post Monday. Spotify opted for a direct listing with no road show. Spotify started off positively this morning on the NYSE at $165.90 giving the Swedish company a market valuation of $27 billion. This represents a 12 per cent increase from the initial reference price of $132. But on April 3, 2018, the Stockholm-headquartered company is expected to begin trading on the NYSE under the ticker symbol SPOT. Music streaming giant Spotify’s IPO had a tepid reception today with the share price closing at US$149.60 It’s not every day that a company as iconic as Spotify IPOs on a stock exchange.

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