According to reports from Axios and Bloomberg, Spotify filed IPO documents with the Securities and Exchange Commission at the end of December. Moves towards the streaming service going public have been in the works for quite some time now. Back in 2016, the company hired their first head of investors relations, Paul Vogel while also securing huge licensing deals with Universal Music Group, Sony Music, and Warner Music Group. Bloomberg reports, the company has been valued at around $15 billion.
As of fall 2017, Spotify had 140 million regular users and 60 million paying subscribers yet it’s a competitive landscape also includes Apple Music, Pandora and maybe even Youtube in the near future.
Pandora, which went public in 2011, has had a tough time on the stock market. It is currently trading at $5, less than one-third of its $16 IPO price.