There were a lot of rumors regarding the fact that Spotify was preparing its muscles to finally go public and sell its shares. The Swedish company world-leader of the music streaming services is busy with the all documents required to start trading its shares in the NY Stock exchange.
Spotify will operate under the stock ticker name SPOT. The company stated that its shares have been traded at $132.50 per share on private markets. This suggests that the firm expects its business to be publicly valued from $6.3bn to $23bn.
Spotify gained almost $5 billion last year with an overall loss of $1.5 billion. The music streaming company originally born in 2008, is now operating in 61 countries of the world, praising 159 million monthly active users and 71 million paid subscribers.