Reuters reports today that Spotify is girding its loins with a finance expert or two in anticipation of an initial public offering.
According to the wire service, the Swedish streaming music startup is looking for someone with experience in U.S. financial reporting and regulatory issues, possibly in preparation for a 2015 IPO.
Reuters even cites a mystery banker as saying the offering could leave Spotify valued at $8 billion. Crazy talk!
Spotify’s last big fundraise totaled a huge $250 million and saw the startup valued at $4 billion. This came a couple of years after a $100 million round mid-2011.
To date, Spotify has raised $538 million in six institutional rounds of funding. With more than half a billion in venture capital under its belt — as well as 24 million monthly active users and 6 million paying subscribers – the startup wouldn’t exactly been taking the road less traveled in going public.
Also, competitor Pandora went public way back in 2011.
Check our full-length research on Spotify’s products and competitors and let us know what you think of the company’s IPO shot in the comments.
Spotify is a Swedish DRM-based music streaming service offering streaming of selected music from a range of major and independent record labels, including Sony, EMI, Warner Music Group, and Universal.[ Launched in October 2008 by Swedi... read more »
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