How Spotify's Listing Could Differ From High-Profile IPOs
Spotify is one step closer to going public. The music streaming company has reportedly filed confidential papers for its direct listing.
Cheddar spoke with Axios business editor Dan Primack, who broke the story. He says the “direct listing” could mean the offering is different from what we saw from high-profile IPOs like Snap last year.
“This will be a much slower sort of offering, this isn’t the situation where you should be expecting a massive pop necessarily,” he said. “It’s the sort of thing where insiders will be allowed to sell whenever they want to sell. You won’t be having the traditional lockups on early employees...Chances are [Spotify has] done deals ahead of time with some big mutual funds.”
Spotify will list shares directly at the New York Stock Exchange, bypassing the traditional IPO process and avoiding underwriting fees. Primack, though, says several banks will still be involved.
The documents were filed at the end of last month, but the news comes after separate reports that Spotify also faces a $1.6 billion copyright lawsuit. The music publisher that controls licenses to thousands of songs from artists such as Tom Petty, The Doors, and Neil Young, claims Spotify doesn’t have rights to distribute the content.
How that lawsuit plays out could be one of the risks looming over the company’s listing.
“All indications are that they want to go [public] in Q1,” Primack said. “It’s unclear how the lawsuit is going to play into it, but that’s the plan right now. This thing should be out by the end of March.”
For full interview [click here](https://cheddar.com/videos/spotify-enters-2018-with-a-bang).
By the time the 2024 election is over, be prepared to see some form of a recession – but this shouldn’t be as bad as what we experienced in 2020 or 2008.
International Master Alice Lee defeated grandmaster Irina Krush to win the American Cup – becoming one of the best women players in the world in the process – but she’s not stopping there.
You can track your sleep habits or heart rate, but how about your brain? Neurable's MW75-Neuro headphones turn your focus and productivity into data you can use to avoid burnout – here's how they do it.
Whether it’s a deepfake video of actor Tom Cruise discovering gum in a lollipop or President Joe Biden discouraging people from voting via telephone, you’ve likely come across a deepfake video, photo or audio recording.
Tensions in the South China Sea, Apple moving to India, and banning TikTok? The podcast ‘Face Off: The U.S. Versus China’ helps explain how we got here.
Cust2Mate is a leading innovator in retail technology, aiming to revolutionize the shopping experience. By implementing smart cart technology, the tech company addresses the issue of theft while enhancing the shopper's journey.
The Biden administration has unveiled a plan, Plan B, to address the student loan debt crisis. It offers to cancel up to $20,000 in interest for borrowers enrolled in income-driven repayment plans. This proposal aims to reset balances for those facing growing debt due to unpaid interest, benefiting low—and middle-income borrowers. An estimated 25 million borrowers are eligible for some form of interest forgiveness.
