Maureen Farrell, Reporter at The Wall Street Journal, discusses Spotify's non-traditional approach to going public. The company will do a direct listing where three major banks will split a mere $30 million.
Farrell talks about the pros and cons of filing this way. Even though banks lose money with a filing like this, it gives more transparency to employees and investors when buying and selling shares of the company. Farrell also talks about the unprecedented nature of such a filing, noting that there are concerns about whether the direct listing will go smoothly. If the listing goes well, will other tech companies follow suit?
Millions of people took to the streets of India yesterday to celebrate Diwali, with the celebration also breaking a Guinness world record for the most lighting lamps in such a large number.
The largest South American airline altered its travel policy because Taylor Swift was supposed to perform in Argentina's capital on Friday but moved the date to Sunday because of inclement weather.
