Music streaming app Spotify reportedly, is gearing up for an Initial Public Offering (IPO) of stocking. Filing for direct listing of its shares at the New York Stock Exchange, Spotify however has gone for an unusual path in terms of stock marketing. Well, the company won’t be issuing any new shares; rather, the company will allow investors and employees to sell their shares.
Launched in the year 2008, Spotify met with a rise in the revenue by 39 percent. Though the revenue stands at $4.99 Billion, Spotify however met with a net loss of 129 percent in 2017. The leading music streaming app boasts a premium subscriber list of 71 million globally.
