Spotify is poised to go public on Tuesday in what will likely be one of the biggest tech offerings this year.
As of the end of 2017, the music streaming service had 159 million active users, 71 million of whom pay for subscriptions. Earlier this week the company said users could hit 96 million by the end of the year.
Spotify says revenues in 2018 could be as high as $6.6 billion, a 30 percent increase from last year. But that is slower growth than 2017’s 37 percent rate.
While there’s no indication of where shares will trade Tuesday, the company could be valued as high as $23 billion.
And there are other reasons this isn’t your traditional IPO.
Cheddar breaks down the “direct listing” and how it could go down.
Eliott Wellenbach, vice president and institutional ETF strategist with Direxion, joined Cheddar News to discuss what traders are expecting from consumer spending ahead of the holidays and how they're positioning themselves following the latest inflation data and mortgage rates.
