The music streaming platform, which is backed by several corporates, has reportedly filed to go public in the US and could demand a $19bn valuation.
Spotify, the Sweden-based music streaming platform backed by telecommunications firm TeliaSonera, beverage producer Coca-Cola and several record companies, has confidentially filed to go public, Reuters reported yesterday, citing an unnamed source.
The flotation is set to take place in the US and would be undertaken as a direct listing, allowing Spotify’s investors to sell shares without the company issuing any new stock.
Spotify’s streaming platform is available in 61 countries and had more than 60 million paying subscribers and 140…