To that end, the company, which was founded in 2008, pointed out that by the end of 2017, it had paid more than $9.77 billion to rights holders. Spotify used much of its prospectus to highlight the positive impact it has had on the music industry overall. Operating losses for 2017 were $461.2 million, compared to around $425 million in 2016. The company generated close to $5 billion in revenue in 2017 (€4,090 million), compared to $3.6 billion in 2016. However, Spotify warned that private share sales disclosed Wednesday “may have little or no relation to the opening public price of our ordinary shares on the NYSE or the subsequent trading price of our ordinary shares on the NYSE.”Īs part of its SEC filing, Spotify revealed Wednesday that it had 159 million monthly active users and 71 million paying premium subscribers at the end of December. Instead, it offered some guidance in its filing Wednesday based on private share sales, which have ranged between $90.00 and $132.50 per share this year.īased on these metrics and the number of outstanding shares, Spotify could be worth as much as $23.44 billion. This also means that the company won’t have a share opening price. The streaming giant isn’t using the traditional IPO process for its public offering, but instead a rarely-used process called a direct listing that comes without underwriters. The music service intends to trade under the “SPOT” symbol at the New York Stock Exchange (NYSE), and offer registered shareholders the opportunity to sell shares in the company. Spotify officially filed for a public offering with the Security and Exchange Commission on Wednesday.
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