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Spotify Files To Go Public (bloomberg.com)
According to Bloomberg, Spotify filed to go public on the New York Stock Exchange, "in the highest-profile test yet of a technique that lets companies list shares without raising money through a traditional stock offering." From the report: With steady cash from more than 60 million paying subscribers, the world's largest paid music-streaming service doesn't need more funding. Instead of an initial public offering, it's trying a direct listing, which essentially lets private stakeholders start trading their shares on a public exchange. That avoids underwriting fees and restrictions on stock sales by current owners, and doesn't dilute the holdings of executives and investors. Spotify, which has been valued at about $15 billion, would be the most prominent company by far to attempt a direct listing, a method that until now has been used by small issuers and real estate investment trusts. It would also be a first for the New York Stock Exchange, which has sought permission from the Securities & Exchange Commission to change its rules for the occasion.
I thought they were getting sued for that kind of thing!
Populus vult decipi, ergo decipiatur...
"Force shits upon Reason's back." - Poor Richard's Almanac
The files that they are making public, I mean.
Just buy on the rumor and sell on the news like everyone else.
Gotta love the timing of yesterday's $1.6B digital theft lawsuit. Have fun with that!
https://www.reuters.com/article/us-spotify-lawsuit/spotify-hit-with-1-6-billion-copyright-lawsuit-idUSKBN1ER1RX
they will micro-trade, pump and dump you until there's nothing left, and only Apple Music and Google Music remains. If you want to go public, do it on the European exchanges where you have a little bit more protection.
People getting rich off it are underwriters and market insiders. You have to be dreaming if you think regular investors can buy at the original IPO valuation. Commendable of Spotify to do this but I suspect the real motives were to but not dilute the stakes by the current owners.
Maybe donâ(TM)t file for an IPO when you have a $1.6 Ben lawsuit hanging over you? Investors donâ(TM)t love massive potential legal liability...
Because "Spotify" is "bullshit" left over from the 90's dot-bomb era. Good luck on your "investment". Maybe you would like some Bear Stearns or JPMorgan stock?
I thought spotify was still unprofitable after all these years, how is going public going to solve that? Sounds like the original owners are just looking to cash out and put the heaping pile of shit on the public's shoulders, or hoping some big behemoth in the industry comes and swallows them up.
It's likely the other way around, they filed the lawsuit to troll their IPO and leave them in a bad position.
You can tell because they put out the demand into all of the headlines, even though it's just a number the plaintiffs made up. I could sue you for a trillion dollars, but that doesn't mean the demand bears any relation whatsoever to a realistic amount I could actually win. A liability number like that is meant to troll ignorant reporters into feeding it to us as clickbait, when any actual number would only come at the end of a very long federal lawsuit many years from now.
Basically any time you see huge numbers in headlines and it's an amount demanded rather than an amount actually awarded, you should assume that it's complete and utter BS that's meant to grab headlines, parroted by reporters who are either legally ignorant or intentionally complicit in laundering PR into "news."
This $1.6B number came out of someone's ass. The same trick has been pulled by many people, including SCO. It doesn't mean anything until there's an award or a settlement, something we may not hear about for several years, if ever. By then, everyone will likely forget the original demands.
Spotify need more blockchain so their stock would really skyrocket.