Spotify files amended IPO prospectus

Spotify is a music, podcast, and video streaming service that was officially launched on 7 October 2008. It is developed by Spotify AB in Stockholm, Sweden. It provides DRM–protected content from record labels and media companies.

• Launched: 7 October 2008; 9 years ago
• Headquarters: Stockholm, Sweden
• Employees: 2,960+
• Founded: April 23, 2006
• Users: 159 million (71 million paying)

Spotify files amended IPO prospectus; discloses that it is registering 55.7 million shares for trading

• In an amended filing, SPOT discloses that it is registering for resale up to 55.7 million shares. Since this is not a typical IPO, the sale of shares is not being underwritten by any investment bank. Rather, shares are being sold exclusively by registered shareholders -- who may or may not elect to sell shares once SPOT opens for trading.

• Sales will be conducted through brokerage transactions on the NYSE, and the opening price will be determined by buy and sell orders collected by the NYSE. For reference, SPOT has traded via private transactions within a range of $37.50-$125 in 2017. And, from Jan. 1, 2018-March 18, 2018, the price range was $48.93-$132.50.

• SPOT is currently expected to open for trading on April 3.